Almost True. It is not backed by 'nothing', it is backed *ultimately* by the will of the American people, the American military forces and the 2nd Amendment.
At the present time the great unwashed American people are the only people in the world that don’t question its value and even they are waking up to its demise.
Untrue. The American people are not unwashed, your quip is disrespectful of the hundreds of millions of Americans that deserve better. Americans do question the value of their dollars but they are not 'waking up to its demise'. They question the economy and inflation just as they have in all generations past. Your quips here are full of hyperbole.
With inflation easily noticed when you buy anything why hold dollars? It is a depreciating asset, I would rather hold food, it’s value is going up rapidly.
If you can store food long enough, then you have a good point there. But I suspect it's a little bloviated with an emminent release of fartrous fartoxide.
The American people will not stop holding dollars to store walnuts in their basements. They will question economic policies that are the culprit in raising concern over the dollar's value. It is not dollars that are at fault here, it is government mismanaged policy making.
The dollar does not even make good toilet paper, but if you have some you don’t need you are welcome to send it to me while it is still worth something. Better hurry.
A quip that has no value and not even entertaining. You're out of your league here.
If you would explain to me how the will of the American people can possibly effect the value of the U.S. dollar I would be happy to hear it.
By most estimates I have seen unfunded U.S. debt, government pensions, Social Security, Medicare, the 17 trillion public debt the Feds admit to, all these and others together are said to range from 120-127 trillion dollars. I have also read that 70% of Americans have 1000 bucks or less lying around. I am also seeing that Obamacare is still being subsidized by the taxpayers but that will change shortly, when it does the full cost of Obamacare will be obvious. Obama said that under his energy plan, energy costs would necessarily skyrocket. In my state the new rules by the EPA have forced my utility to increase rates by 30% in one year, after shutting down 2 coal fired plants. We are buying corn to fuel cars, this is causing the price of pretty much everything in the grocery store to increase or the companies are downsizing the size of their products but charging the same price to hide the increase. I have also read that wages have stagnated while the true inflation rate is probably in double digits. These are caused by the out of control spending of all forms of government, and the Fed goes along with it to the tune of a trillion more each year than the Federal government takes in, it may be more, we have no way of knowing for sure. If you are telling me that the will of the American people to roll up their sleeves and dig out of this government created pit will save us from hyperinflation, I don’t buy it. It is not possible, it just does not compute.
If tomorrow the nation of Columbia, let us say that they are the only folks with coffee beans, says we don’t want your dollars for our beans we want, fill in the blank. I guess that at that point the Feds will send soldiers into Columbia and tell the farmers, give us your beans and take these dollars or we will shoot you. Somehow I don’t see that happening. What is possible is that some very dangerous countries will figure out they got sucked into a Ponzi scheme and get a little angry and possibly lob a few big bombs our way or just invade thru Mexico and take over a bunch of our natural resources. Just don’t see how the military can keep the merry go round turning.
I like the reference to the 2nd Amendment because guns and ammo are a good investment, especially over the years of the Obama administration. But how this will prop up the dollar I can’t quite grasp.
The great unwashed it is just a reference to the average American, and it is a partial quote by someone, who I can’t remember. Really what I am referring to is the lack of financial knowledge most Americans display in their talk and actions. Go to any new car showroom and watch as the customer buys a car, not based on total cost, but on the ability to afford the payment. Ask the average American who causes inflation and most will say ‘big business’ or ‘the big boys’, as though Warren Buffett or Bill Gates can control or produce inflation. Only the Federal Government and the Fed can produce inflation, they have the printing presses.
American take showers, we are a clean people. No disrepect meant.
They are just waking up to inflation, go to any meat counter in any store and ask the lady standing next to you, wasn’t this hamburger 2.99 just 2 months ago? They will be able to tell how every form of meat has increased and over what time period. Gas is another topic where they will have knowledge of the increase. When you say gas was 1.89 when Bad Young Bush left office they will find it hard to believe but they do know it has went up. Electric bills are another cost they realize has gone up. What I am saying is when inflation has a direct effect on their pocketbooks they know it, most do not realize why.
By the way, the words, Not worth a Continental damn, refer to our first foray into a fiat currency, it was issued during the Revolution and promptly became worthless. That experience led our Founders to state clearly that our money was to be gold. It later became bi-metal with the addition of silver. Look up the famous ‘Cross of Gold’ speech, I think it was by William Jennings Bryant.
When I mentioned food I was really speaking of the fact of the increase so far this year of any kind of meat exceeds 20%, if my memory and my info is correct, may have been year over year, but any way you cut it, it is a great investment.
I am probably out of my depth, but in my shallow waters I see that the Federal government is doing everything it can to destroy the middle class in this country. Flooding our nation with underage illegals puts an extra burden on us all that we can ill afford. The adult illegals offer a different challenge, not just to our welfare system but likely to our law enforcement system and prison system. Where will this money come from? From people who are already too strapped to afford the Affordable Care Act, food increases, energy cost increases, rents that are going thru the roof, the rise in interest rates that will accompany the increase of inflation if history is any indicator, how will they do this? Inflation is the only weapon the Feds have at this point and my point is that pretty much any tangible asset, such as gold, silver, precious stones, for the family of very limited means, food may be their only affordable option for investment and the safest bet.
The stock market is currently in a bubble, I have invested there for over 30 years off and on and saw the tech bubble bust coming, look up the Tulip bubble in the 1600’s I think, I got out when I saw a 3 year old tech co. that had never produced a product, or made a profit and was going thru its investors and lenders money at a very fast burn rate, and it was selling at 200 bucks per share. I was in the market in 07 I think and six months before it tanked I noticed that stock prices of certain companies were not acting in a rational way and got out and advised my relatives to do the same. They did.
After the dust settled I bought oil pipeline cos, which I thought safe and made a few bucks. I have and still do hold physical gold and silver and have bought and sold shares in their ETF’s. I have also bought calls and puts on certain companies when I could discern a pattern in their stock prices. I have never lost money on physical gold or silver. I view it as a type of insurance of the buying power of the dollar at the time of purchase. Plus it is portable and easily bought and sold without a paper trail. I have also used it for barter for things I need.
When you refer to government mismanagement of our monetary policy you seem to assume that it is an accident or just stupidity. I don’t. I think it is part and parcel of the Obama effort to turn this country into a 3rd world nation. It is part of a long term, well thought out plan.
As my hero, Forrest Gump says, “That’s all I have to say about that.”