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Re: Fiat money works

By: faul in ALEA | Recommend this post (0)
Sat, 25 Aug 12 9:45 PM | 80 view(s)
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Msg. 09528 of 54959
(This msg. is a reply to 09525 by Cactus Flower)

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You think the U.S could have afforded Vietnam & the Gulf wars
if the U.S had to pay for those wars from the Gold reserves if
Nixon hadn't closed the window?

War is easily paid for with funny FIAT money,harder to pay
for with gold......unless the country you are invading has
lots & the world allowed you to take it....like in the days of
old.


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The above is a reply to the following message:
Re: Fiat money works
By: Cactus Flower
in ALEA
Sat, 25 Aug 12 8:49 PM
Msg. 09525 of 54959

FYI All gold currencies have ultimately failed. That's why none of them are left. It is a hopeless medium of exchange. Not addressing this shortcoming doesn't make it go away. Gold as currency is a really bad idea.

Even as a store of value it is volatile, which doesn't help so much.


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