Where does U.S. gorvernment store all its gold to back the paper currency?
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US money...backed by gold?
that hasn't been the case for a longggggg time.Comment
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what happened to it?
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In China
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LOL watching diehard?
the Bullion Depository has gold
but it doesnt backup paper currency, lolcopterComment
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Lol... for a while now the US dollar's been backed up by hopes and dreams. Look up "fiat currency" on wikipedia. Scared yet?IntegralPay LLC | www.integralpay.com
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e-gold.com
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First I believed it was Fort Knox, but I heard it was somewhere else actually. Can't remember the name of place right now
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This is an interesting film In it, they talk about Fort Knox and other stuffLast edited by AmigoPorn; 06-26-2007, 05:09 AM.ICQ: 267899523
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nowhere...
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What gold! hahahaha.
It's gona be complete Humor when China is going to collect their Debts.
Even as a non American, it won't be a bad idea to have some under yer matrass."Life CAN Get All Up In Ya Ass Bébé.. You Better Work It Out!" De La Soul
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* Crazy White Sean - Armifer - AMSUS - Sensis *Comment
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thats the truest answer of them all... you can thank Nixon for removing the gold standard, i believe was in 1971... now the value of the dollar is all psychologicalIts all in your mind
the dollar is respected for a couple reasons..
1) america being viewed as the strongest country , politically and militarily
2) america is the worlds manufacturer of goods
OH WAIT>>>>>> neither of those reasons exist anymore
only reason the dollar hasnt collapsed 100% yet is that the world trades oil for dollars (most of it does at least, except Iran and Russia I believe at this time)
should the entire OPEC group start sellling oil for euros you will have to start carrying a bagfull of dollars to the store to pick up roll of toilet paper
all fiat monies are doomed
BUY GOLD
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how can a country not have a gold reserve to back up the currency? this is fucked.
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how can a country not have a gold reserve to back up the currency? this is fucked.
yup
but how else could america print money out of thin air to pay for warsComment
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Why should a country back up its currency with the amount of a pretty metal which they manage to keep in a vault somewhere?
Anyway, there is a whole history to this. Read about Bretton Woods and then the collapse of the standard in, I believe, '71. As with most things there are both pro and con reasons for abandoning the standard.
skype = "adultdatelink"Comment
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Get it printed in Korea right?
I think i remember hearing the US has the biggest debt in the world. Funny how Bush just got an other 100 billion...
How much did you say? And... where does this money come from exactly?
Well the good news is. With a 100 Billion they can at least stay an other 3 months in Iraq & Afghanistan.
Oh well.."Life CAN Get All Up In Ya Ass Bébé.. You Better Work It Out!" De La Soul
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* Crazy White Sean - Armifer - AMSUS - Sensis *Comment
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1) The U.S. issues Treasury BondsAnd... where does this money come from exactly?
2) The Federal Reserve Buys these bonds from the government
3) The Fed buys them with a book keeping entry (yes, that means out of thin air)
4) the free money is then sent into the American government
and in case you were wondering... the fed reserve is the biggest scandal in american history (more so than monica lewisnky even) completely against the constitution to have a private company in control of the countrys money supplyComment
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It was a retorical question but nice one campimp!
Money Masters!"Life CAN Get All Up In Ya Ass Bébé.. You Better Work It Out!" De La Soul
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* Crazy White Sean - Armifer - AMSUS - Sensis *Comment
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Scary shit!the cost of goods and services remained relatively consistent between 1635 and 1913, around a level of roughly 25 times the buying power of the U.S. dollar in 2006. Substantial devaluing of money has occurred only since the creation of the Federal Reserve Bank and its established system of creditComment
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25 gold bugs!
skype = "adultdatelink"Comment
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when iran starts selling their oil by euro ?
you can use your greens to clean your ass.
or send me a ton of them and will send you back 1 ?
dont forget second world war in europe childs were playing with own curreny banknotes
so start storing some gold instead of your green paperComment
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http://video.google.ca/videosearch?q=federal+reserve Lotta good info out there on the subject.
Check out info on the "Amero" too.
Canada gets fucked the same way through the Bank of Canada (Our version of the Fed)... Most of the people on the Board of Directors of both operate in the City of London.
President Woodrow Wilson after creating the Federal Reserve said:
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.
~ Woodrow Wilson
"It is well that the people of the nation do not understand our banking and monetary system, for
if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford
"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President
[Wilson} signs this bill, the invisible government of the monetary power will be legalized....the worst
legislative crime of the ages is perpetrated by this banking and currency bill." --
Charles A. Lindbergh, Sr. , 1913www.memberchannels.com
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they dont have enough gold to back it upTAEMDLRMSKRJIXMRLSMRJ.Comment
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is any country's currency currently backed up by a precious metal?Comment
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Oh boy....I'm just a newbie.Comment
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We back our dollars Enron-style.Comment
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Someone above said some different areas that holds US money, we also have a real print machine which isn't used, land and 1000's of corporations, many in eu and pretty much every other country in the world too.
And Fort Knox has 147.3 million ounces of gold...
Isn't the national dept the amount we can't cover in gold? Maybe some other stuff, either way it's a fake number. We aren't even spending US money, nobody is - just bs iou notes and green fake paper.
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It's all disambiguation
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china and japan are dependent to usa economy
so they have to suppport usa if they want to survive
on the other side if they dont support iran at the near future when usa reaches all energy reserves of world im sure they will decrease chinas and japans energy
so difficult game for china
im sure irans end is coming slowly if they insist on converting to euro
americans know very good starting war by telling fake stories like they did in ıraq
where are mass destruction weapons
saddam must put them wings and they flied .
i m sure they have good reasons for iran now as they had for iraq.Comment
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It's amazing how dangerous people are with their ideas when they have a little bit of knowledge.I died.Comment
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Not that I don't agree that the situation's been fucked pretty much ever since Wilson's presidency...
but where, exactly, is the Fed "completely against the constitution"?
Coining money and regulating commerce are powers reserved for Congress - but I don't believe there's any stipulation on whether or not they can employ a private company to facilitate the matter.... seems a bit overly specific for the U.S. constitution.-D.
ICQ: 202-96-31Comment
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We went off the gold standard decades ago.
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Can anyone name a country that works off the gold standard? Nope.
People clamoring for the Gold standard don't understand how economies work. With a gold standard, most people wouldn't be able to buy homes, have credit cards, take out business loans. Seriously guys, read some basic books on our economy (and the economy of every country).Comment
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Can anyone name a country that works off the gold standard? Nope.
People clamoring for the Gold standard don't understand how economies work. With a gold standard, most people wouldn't be able to buy homes, have credit cards, take out business loans. Seriously guys, read some basic books on our economy (and the economy of every country).Comment
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what i love is the fact that the bank responsible for printing all the money (Federal Reserve Bank) in the US is actually a privately owned bank (mostly by Europeans), and they get paid back by taxpayers (eventually). It's a beautiful system.
Fair play to them thats what i say. No one seems to complain.
Here's how the system works:
1>The US Gov says "We need more money printed to keep our economy afloat"
2>The F.R.B. prints more money
3>Taxpayers then owe that money back to the F.R.B.
Repeat until the economy goes bust or the dollar is worth as much as an Italian lira.
Every time this happens it simply adds more debt to the debt ridden economy, but who cares because you have an immediate cash flow surplus.
currently US borrow 1.9 billion dollars a day to pay interest on it's debts.
Until recently China was the biggest lender to the US, but they have decided to stop lending money.
What does this lead to? Printing more money, and more debt incurred to foreign lenders. Rising interest rates, and foreclosures on many properties, and great opportunities for the wealthy to add considerable real estate portfolio assets for pennies on the dollar.
Sounds good to me.
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>Until recently China was the biggest lender to the US, but they have decided to stop lending money.
where did you see this?Comment
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why dont you watch the doc money as debt on google video.Skype Horusmaia
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