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quaker bill

(8,273 posts)

17. Money has not been backed with real anything for a very long time

Tue Mar 12, 2013, 04:35 AM

Mar 2013

There is literally nothing different about the "dollars" that existed 10 years ago from the dollars that exist today or will exist tomorrow.

No money is fake, or all of it is. All of it being fake is closer to reality. It was only ever worth what we believe it has been worth.

The notion of a Greece like collapse of the US currency is a conservative / Paulite meme with roughly the same credibility as the notion of floride in the water as a means of mind control.

THe dollar will not be dropped as a reserve currency simply because far too many soveriegn wealth funds own far too many dollars to allow this to happen. Isn't happening and won't in your lifetime.

If you really believe this stuff, buy gold. (but if you are really smart and own some, sell, as all the old pros are going short).

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Stocks creep up; Dow rises for seventh day running [View all] Omaha Steve Mar 2013 OP

Everybody save for a few perpetual whiners, thinks this is a great thing! graham4anything Mar 2013 #1

It could be a great thing if progressoid Mar 2013 #2

whining about whiners olddots Mar 2013 #5

It ain't trickling down olddots Mar 2013 #3

I feel the same. lexw Mar 2013 #7

There is no way for a rise in stock prices to trickle down, unless you have money invested in stocks slackmaster Mar 2013 #10

Well... people whose portfolios have risen are more likely to extend their homes, Nye Bevan Mar 2013 #12

I'm investing all of my capital gains in classic velvet paintings of Elvis Presley slackmaster Mar 2013 #14

Not a good sign to me, but a positive thing in that Populist_Prole Mar 2013 #4

All that freshly printed money has to go somewhere... lib2DaBone Mar 2013 #6

The "freshly printed" money quaker bill Mar 2013 #8

You're just the kind they're counting on. Psephos Mar 2013 #16

Money has not been backed with real anything for a very long time quaker bill Mar 2013 #17

The value of fiat currency is proportional to the solvency of its issuer. Psephos Mar 2013 #27

A reference to zerohedge tells me all I need to know quaker bill Mar 2013 #28

selection bias in action Psephos Mar 2013 #29

Irrational exuberance magic59 Mar 2013 #9

Shit floats. n/t DeSwiss Mar 2013 #11

I used to love seeing the stock market go up... lexw Mar 2013 #13

Whoopie! ReRe Mar 2013 #15

There are many millions of people who are invested in the stock market who are chronically... slackmaster Mar 2013 #19

"Millions" of sub-rich... ReRe Mar 2013 #20

I don't understand the basis of your snarky reply slackmaster Mar 2013 #21

I'm sorry... ReRe Mar 2013 #22

The term chronically sub-rich is a literary reference. The expression was used by the Firesign... slackmaster Mar 2013 #23

I'm so so glad you didn't blow me off... ReRe Mar 2013 #24

If you don't have a receiver with a Phono input, you'll also need a phono pre-amp. slackmaster Mar 2013 #25

The dow creeps up davidpdx Mar 2013 #18

Didn't this "W/S Surge" happen right fredamae Mar 2013 #26