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Warren Stupidity

(48,181 posts)

3. "a false value system" - please google fiat money.

Reply to SQUEE (Reply #2)

Wed Jan 9, 2013, 12:01 PM

Jan 2013

we have been living, along with the rest of the modern world - in this "false value system" for well over 100 years. Even the theoretical convertibility of the US dollar under Bretton Woods was within a global system of fiat money, and officially ended in 1971. Nobody outside of lunatic rightwing libbers is seriously arguing to go back to precious metals based currencies, although the irony of the platinum coin gambit does bring the whole issue of what exactly is money back up.

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Everything You Need to Know About the Crazy Plan to Save the Economy With a Trillion-Dollar Coin [View all] grahamhgreen Jan 2013 OP

The coin would not default on anything. Warren Stupidity Jan 2013 #1

But it does highlight the fact that money is ephemeral SQUEE Jan 2013 #2

"a false value system" - please google fiat money. Warren Stupidity Jan 2013 #3

Kind of my point, although a bit clumsily made I admit. SQUEE Jan 2013 #4