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theloniusfleabag

America The Fraudulent

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With Bank of America now being investigated, the collapse of Enron, etc, when will people learn that the 'mighty USA' is selling "The Emporer's New Clothes"?

How many more scandals will it take before it is realized that the US dollar has value only because people believe it does? I expect to be buying a business at the end of the month, and am seriously considering taking US dollars vs Canadian 'at par' at best. Some of the most respected companies are proving that their worth is far less than what is actually the truth.

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That's how the modern currency system of every country works. People believe that their money has value, that is what give it most of its worth in a domestic context.

Money, paper money that is, has no real value at all. Any economist can tell you that. Even coins are only worth the metals in them. Eletronic storage of money, that money has no worth at all. It is what people believe that gives money its worth.

However, the US still has the largest economy in the world.

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With Bank of America now being investigated, the collapse of Enron, etc, when will people learn that the 'mighty USA' is selling "The Emporer's New Clothes"?

How many more scandals will it take before it is realized that the US dollar has value only because people believe it does? I expect to be buying a business at the end of the month, and am seriously considering taking US dollars vs Canadian 'at par' at best. Some of the most respected companies are proving that their worth is far less than what is actually the truth.

Do I still have time to get in on this money exchange with you? How many on par Canadian $ are you willing to take?

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I agree, greed has overcome some US corporate execs. and we are starting to put them in jail.

What country still backs its currency with anything other than the strength of their economy? (floating)

You may certainly trade currency at what ever rate you wish, you must then however, find a sucker. :blink:

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Hey, KK, looks like we got a live sucker - can I get a piece of the action with you?

I bet he also believes in "Double up and catch up!"

Barnum was right - there is one born every minute. B)

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