I was just told about America operating on this thing called The Fiat System what that actually is - is...a monitory system that value is guaranteed by the government that operate on that system. I lay terms - the value of its money is guaranteed by WORD and not by ANYTHING that equate value for the currency. So, if I have DJ gear that is worth $1000 used and I borrow $1000 from someone and I cant pay it back, I have that gear to insure that I can give the person I borrowed the money from - SOMETHING that is WORTH the money they gave me as a LOAN that I could not pay back. Under the Fiat standard, I have NOTHING to give back to equal the value of what I borrowed. That is why I say - MONEY - has ZERO true value because...there is nothing, NOTHING that gives the American Dollar value. Especially sing the currency of said country is given its VALUE by its government. en.wikipedia.org/wiki/Fiat_money
Posted on: Mon, 02 Jun 2014 03:04:20 +0000
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