Quote:
Originally Posted by Ahldagor
[You must be logged in to view images. Log in or Register.]
full faith and credit. can't ignore that. by creating a demand the fed creates a value. is it intangible, yes, but the tangibility of the currency isn't the issue. the value of it based on supply and demand is. if the u.s. can't cover its debt (for whatever reason) then the currency loses value and will be seen as not a decent means to trade oil with (also creates the demand). we have a currency based on nothing yet has value, there's something genius in that.
|
its just paper, we need the gold standard