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ALL "forms of money" - INCLUDING GOLD are "based on faith". Even gold only has the value people BELIEVE it has - that's why gold prices vary over time. Gold is now "worth" just 2/3rds of what it was "worth" just 2 years ago. Why? Because THAT'S what people are willing to pay for it (ie what they BELIEVE it is worth). That's the nature of ALL forms of "money" - whether it's paper, gold, wampum or those huge Pacific Island round stones. It's ALL "based on faith". NONE of it has any "real" value.
When will you folks get that through your heads?
Ken
What do you think will happen once people lose faith in our ability to continue to grow the GDP enough to continue to pay added debt or even worse, the world wide interest rate for debt increases?
Rubbish
Was 9 trillion when he took office the rate of increase has slowed not the debt which has doubled since he was sworn in
Absolute falsehoods
1984 think speak
What do you think will happen once people lose faith in our ability to continue to grow the GDP enough to continue to pay added debt or even worse, the world wide interest rate for debt increases?
There is no world wide interest rate. The Central Bank sets the interest rates.
Please go buy up all the gold. More equities for me!
unprotected debits, government spending not listed, and percent of the GOP and actually numbers show we have a serious problem. The original poster is showing one number and other numbers that show our economic issues and projected budgets should serious problems. Once all the government funded promises and liabilities are paid we will be broke that is the only truth to the matter.
unprotected debits, government spending not listed, and percent of the GOP and actually numbers show we have a serious problem. The original poster is showing one number and other numbers that show our economic issues and projected budgets should serious problems. Once all the government funded promises and liabilities are paid we will be broke that is the only truth to the matter.
A government that issues its own currency cannot be insolvent.
There is no world wide interest rate. The Central Bank sets the interest rates.
Please go buy up all the gold. More equities for me!
Haha.. I didnt mean to suggest there was ONE world wide interest rate, thats the point.. there isnt.
If Europe government decides to pay 5% to entice people to buy their debt, then we have to increase ours as well, thus our deficits climb and limits the amount the US government can spend because such a large amount of our current expenditures are for "entitlements" and other obligations already committed..
A government that issues its own currency cannot be insolvent.
Is that really the message we want to be telling people who buy our debt? That we're going to print up tens of trillions of dollars to make them whole, thus devaluing the currency making it worthless?
You probably dont even understand how asinine that is..
Is that really the message we want to be telling people who buy our debt? That we're going to print up tens of trillions of dollars to make them whole, thus devaluing the currency making it worthless?
You probably dont even understand how asinine that is..
I believe Germany tried that in the 20's. Did not end well.
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