Is paper money fraudulent?

Question

Is it done specifically to defraud the constituency?

How about 3 20$ silver coins and 1 40$ gold coin?

You can always mix the metals to get any value you want.

In 1972 the price of a troy ounce of gold was $38ºº.

Now it is $600ºº to $650ºº.

Three percent inflation , my ŧ§!

Answer 1

I don't know, but kool icon picture thingy.

Answer 2

I have seen both sides to this issue and I just have to laugh. Since money is a human invention going way back to ancient times , people have always wondered if their governments have defrauded them. It was just a few decades ago when the US took itself off the gold standard, and what I mean is for those who do not understand economics, it use to be that governments would keep their currencies attached to the amount of gold or silver in their vaults. The more gold or silver, the more the money was worth. Now it is just a matter of trust. People have to trust the government to keep the currency valuable.

I saw someone say that yes paper money is fraudulent because the constitution says so. Prove it! Show me word for word where it says that. Show me where it says the government is breaking the laws of the constitution. Paper money goes back to colonial times. The 13 original colonies printed their own paper money. Of course, they printed it only on trust not preciouis metals. The British govenrment tried to make the money worthless by printing their own and use it in the colonies. European governments, before the US became a country, used paper money. Now all of sudden paper money is considered fraudulent.

To those who talk about using plastic, I know a lot people who scared to go to a paperless society. They want to use money. They do not want to go to plastic, in other words, no money what so ever. No checks, no money just a card issued by the government to use like money. It scares people. The government can track what you spend and spy on you all at the same time. Of course, what did people use before the invention of money, bartering. That is not practical in todays economy, but there use to be no money.

For those who wonder about the American Dollar, did you know there countries in Central America who use the Dollar as their currency? I know Panama is one and I think Honduras is the other. They do not even use their own currencies. They stopped using their own curencies. Their economies are now tied to ours. In Peru, they use the Dollar side by side with the Nuevo Soles. They pay some things in Dollars. I assume that is why their economy is stronger than others around their area.

I find it so strange what people think today. Do you want to find so many faults in the government so you can undermind it? Do you want anarchy? Yes, the government and the constitution are not perfect, but so what. Without that constitution, you would not even be able to ask the question you are asking and I would not be able to answer what I am answering. Of course of Bush had his way, we would be in trouble. Paper money fraudulent? I think not.

Answer 3

a paper penny for your thoughts?

Interesting.

I suppose looking at it the other way, if the metal price and weight were worth more than the nominated value of the coin, then there would be strong temptation for people to melt and re-use the metal for other purposes.

In such a case the money would have several values, one fluctuating according to metal prices, and one according to the market value of the US currency it represents.

That would be no good, as we really need each note to be worth one set amount.

Good question there, I might have to check out the history myself, let me know if you find any good sites about the history of money.

Answer 4

Don't know, don't think so. But in the United States, paper money is a violation of the US Constitution. Of course, seeing as the US has been in a perpetual state of emergency for which an end was never been ended by the president since 1933 it doesn't matter.

Answer 5

money is kind of a funny thing. its worth something, until someone won't accept it, then its worth nothing...doesn't matter much if its paper, or plastic, or gold or silver or diamond (which is a rather abundant regulated to seem scarce commodity) i ran into an interesting moment one time when i tried to pay my rent in cash (nothing in the lease said it had to be check) and they wouldn't take it from me, this essential made the 560 dollars in my pocket worthless, but my check worth one months rent. i kept trying to explain they had to accept it, which rule of thumb legally they had to in order to avoid just this thing from happening. imagine if all of a sudden every shop in your town only took roofing nails and not cash. it would be quite a funny mess.

is it fraudulent? well not really, even counterfeit money is really only fraud against the government(since it is unwavering in its acceptance of any other "legal" tender), or if given to someone thinking its something else. there have already been several cases of store owners accepting "counterfeit" money willingly, not to then try to pass off, but to display as sort of "art." one that comes to mind was in the early 90's i think where this guy would eat dinner and hand draw a bill.

Answer 6

You need to specify what exactly you mean and then go from there. Paper money is paper money, would you rather carry one hundred dollers in change in your pocket or one bill that says 100 dollars on it?!

Answer 7

Why don't you try plastic? We've had it for years. That way it survives being accidently put through the washing machine. I believe it is easier to detect fraud from as well.

Answer 8

No. It is done to streamline commerce.

Answer 9

WHERE DO YOU PEOPLE COME UP WITH THESE COMPLETELY LUDICROUS MISCONCEPTIONS?

ARE YOU ON DRUGS?

Sheesh.

Answer 10

Seashells would be better.