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To: fortheDeclaration
{You mean the dollar is backed by nothing.}

You repeat the lie of the demagogue which is debunked in the article. Your money is backed by the GDP of the United States of America. Your money is backed by everything, every pizza sold, every cell phone, every video game, every John Deere tractor made, etc.

The money is free, not in the golden prison and your prosperity is multiplied.

73 posted on 01/18/2008 4:51:32 AM PST by mission9 (It ain't bragging if you can do it.)
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To: mission9
Your money is backed by the GDP of the United States of America.

Then why is the value falling?

Our money is backed by the promises of politicians regarding a part of the future GDP of the USA. That's what is happening when the government goes to the fed and sells them T-bills and the fed prints money to buy them.

As long as everyone believes the politicians will have the future tax money to pay off the bills, the value of the dollar is stable. But when people start to think that the politicians might just be overly optimistic, the value of the dollar falls.
74 posted on 01/19/2008 4:01:13 AM PST by publiusF27
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