Posted on 12/06/2010 1:54:07 PM PST by hattend
Since nobody would know the difference between a fiat $20 dollar note in circulation and one of these fiat $20 dollar notes held in the warehouse, I would say they would have identical value.
The real question is: is a federal reserve note (ie fiat money, backed by nothing), the same as a real US dollar? It’s considered “legal tender”, an instrument of monetary value. It used to be like a government-backed, standardized check, that you could turn in and get a real silver dollar or real gold dollar. Now you can’t.
I think the answer is that once we went off the gold standard, what “the US dollar” actually was, really became nothing. It became this thing hazy, nebulous thing called “confidence”. We had a defined standard but we dropped that standard. Now we have no standard. We kind of developed a petrodollar standard, where we sort of derived it’s value from how much oil it could buy us (ie dollars per barrel) but that is not a set standard. It made the dollar a global currency of choice but again, it’s still based in ‘confidence’ and not anything of tangible, intrinsic worth. And now most places want to use a different standard than petrodollars. And probably will. Which will (and is) affecting the nebulous “confidence” the dollar’s worth is now based on.
So, let me try to understand. In tough times, the government decides to “print more money”. The order goes out, and the print shop gears up and runs off the bills, then stacks them on palettes ready to ship.....and then what happens?
FUBO happens
I'd rather not, it would mean looking at his mug every minute of the day if his likeness were on the most common trillion dollar bill, rather than what will become the forgotten single dollar bill.
The machine must be getting extremely worn out.
On 60 Minutes last night, Bernanke swore that the USA is NOT printing more money.
MORE LIES!!!!!!
The 1st bills with TurboTax Timmy’s name on them ,too.
Timmy is deeply saddened.
What would Willie Sutton do?
O is making it rain... he must have learned from Pac Man Jones.
Yes, but did anyone notice that they are REPRINTING the old bills with HENRY PAULSON’S SIGNATURE???
Seriously, would Obama’s eligibility have anything to do with that not being “legal tender?”
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