Drusus Posted April 3, 2007 Report Share Posted April 3, 2007 its worthless paper that someone arbitrarily gave a value to backed by nothing but say so...If the paper was a promissory note it would be different. Its not the paper but what backs it. That paper is worth less and less as the they create more and more each day...it now takes like 61/2 of those pieces of paper to buy each of those ounces while at one time it took much much less, because those pieces of paper represented something at one time.. It is slowly taking more and more of those pieces of paper to buy anything at all...because of course the more pieces of paper you make (or make on a computer)...the less all those other pieces of paper (or 1's and 0's ) are worth. I would take your 8 pieces of paper and buy more gold at the current market value (or wait for a dip) and keep the extra to spend in the system set up by welathy private banking families that almost forces us to use that paper and the banks they own if you want to get by (or plastic and credit)... In essence, the paper is worthless but the government (fed) fiat isnt as long as they prop up the system. Of course the whole world is on fiat now so it is one big fiat system. Like WWI notgeld but on a worldwide scale...when the US goes fiat...the world does. So worth of money is proped up by a worldwide system and all nations fiat is validated by a few nations fiat...its all very interesting. Since we have went fiat there has been constant inflation and thats even with the hedging to slow it down. I think soon our money will be much like italy where 50,000 lira rents you a moped for a few days Link to comment Share on other sites More sharing options...
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