Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Money used to be backed by "something", it no longer is, therefore a dollar is only worth what someone will give you credit for. There is no contradiction, facts are facts.
And... gold is different how?
It is also only worth what someone will give you for it.
Right now it takes 25 almost worthless dollars to buy one silver dollar. If you break that down, a almost worthless dollar will buy 1 cents worth of silver.
Can't go a whole lot lower can it?
You cannot have possible have garbled that more if you tried.
One "silver dollar" is worth 25 dollars because it contains 25 dollars worth of silver.
Hence... one dollar always buys one dollar's worth of silver.
But silver is worth more now than back when "silver dollars" were actually used as currency.
A dollar is always, by definition, worth 100 cents.
Dissimilar metals conduct an electrical charge, which is known as currency.
"Reference to history clears away the confusion of present-day politics, by showing beyond cavil that the "dollar" is a specific coin, containing 371.25 grains (troy) of fine silver, and nothing else."
"a. The "dollar" in the Constitution. Both Article 1, Section 9, Clause 1 of and the Seventh Amendment to the Constitution refer explicitly to the "dollar" - in the one case, permitting "a Tax or duty * * * not exceeding ten dollars for each Person" the States saw fit "to admit" prior to 1808; and, in the other, guaranteeing trial by jury "[i]n suits at common law, where the value in controversy shall exceed twenty dollars.” The Constitution does not define this "dollar.” But, in the late 1700s, no explicit definition was necessary: Everyone conversant with political and economic affairs knew that the word imported the silver Spanish milled dollar."
Since a dollar is, by definition, worth 100 cents... yes. A dollar cannot be worth two cents.
It is simple math.
100 does not = 2
Actually 100 times zero does = 2 times zero. We're not quite there yet but if we keep adding those zeros onto the national debt number it won't be long...
Right now it takes 25 almost worthless dollars to buy one silver dollar. If you break that down, a almost worthless dollar will buy 1 cents worth of silver.
Can't go a whole lot lower can it?
Quote:
Originally Posted by BentBow
Is Obama going to get his face on our upcoming currency?
The Obama Buck, replacing Washington?
The dollar that is really worth 2¢
Who started this rumor?
Is it a joke that someone has grabbed and run with?
You're probably confusing real bills from the mint with the Obama buck inaugural bill which looks like real money and are still for sale.
WW, No I didn't know there was a note for 2009 nuthin's. Some where around I got a Bill Clinton note $3.00 dollar bill I think and one of Hillary, but I forget what amount it says, as worthless as the Obama buck.
The problem with our dollars is that they can be worth what anyone says they are. There is no trust that tomorrow they will be worth what they are today. Other than less than today.
Gold and silver for thousands of years were always worth something. Paper never was unless it was backed in metal. Paper not is not backed by metal or even a promise of any value what so ever.
I don't know if the todays paper notes will become worthless tomorrow, or 200 years from now, but I suspect it's a lot closer to tomorrow. For all I know in a week we will make small change with potatoe chips, and dollars will be slices of bread.
I am not the one who made the 2 cent comment. I am the one that made the 1 cents worth of silver comment.
Someone else, elsewhere, mentioned that he earns better than 1 dollar an hour (silver) which means 25 to 31 dollars an hour. So in silver he earns apx 8 dollars a day.
Another thing that seems interesting to me, is i have real and old silver dollars, and even a paper note 'promised by the Govt' to be backed in silver. It's just another Govt broken promise.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
and one of Hillary, but I forget what amount it says, as worthless as the Obama buck.
