At what point does a fiat currency become...

Discussion in 'Politics' started by BOBO, Nov 7, 2011.

  1. BOBO
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    BOBO The Magnificent!

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    ...worthless??? Since fiat currency is by nature is only worth the paper it is printed on regardless of the bills denomination, is 'FAITH' all that gives fiat currency it's stated worth??? I must ask then at what point of faith, or lack of faith does a nations fiat currency go belly up?
     
  2. auditor0007
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    auditor0007 Gold Member

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    when nobody accepts it for payment for goods and services rendered.
     
  3. editec
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    editec Mr. Forgot-it-All

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    At what point does US citizenship become worthless?
     
  4. waltky
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    waltky Wise ol' monkey Supporting Member

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    World Monetary System In Deep Trouble...
    :eusa_eh:
    RAHN: Making money disappear
    Monday, November 21, 2011 - Currency not tied to gold or other standard becomes worthless
     
  5. Sundial
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    Sundial Class Warrior

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    Gold is intrinsically worthless. It's backed by nothing. Its value: purely speculative.

    Dollars, on the other hand, will have value at least as long as you need them to pay your taxes.
     
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  6. bripat9643
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    bripat9643 Diamond Member

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    When you need a wheel barrow to take your pay home, then you'll know the currency has collapsed.
     
  7. bripat9643
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    bripat9643 Diamond Member

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    When the U.S. has the same laws as the countries Obama admires.
     
  8. bripat9643
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    bripat9643 Diamond Member

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    ROFL! Exactly the opposite is the case. Gold has intrinsic value. It has value before it was ever used as money. Only an economic ignoramus would claim "its value is purely speculative." One can speculate in almost any commodity or product on the planet.

    Paper money is worthless.
     
  9. Sundial
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    Sundial Class Warrior

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    Gold has failed everywhere it's ever been tried anywhere in the world. So-called fiat money, on the other hand, has coincided with the rise of the richest, most successful countries the world has ever known.

    When people realize unemployment is a purely artificial condition, that unnecessarily impoverishes everyone, which can be cured with a simple change in fiscal policy, we'll become even richer.
     
  10. Sundial
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    Sundial Class Warrior

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    Prove it.
     

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