i had a sub at school today and he was talkin about how u.s. money is based on debt and is unconstitutional. and prices keep goin up because the dollar is worth less and not because other things are worth more. and how the u.s. is going to go through hyperinflation within the next 10 years. and how china has like bilions of dollars in u.s. money and they're not doing anything with it and then they're gonna decide they want gold and all of that money will come back to the u.s. and the prices will skyrocket because the dollar is worth less.
is any of this true? check out some of these sites i found about it.
http://www.libertydollar.org/
http://www.hermes-press.com/econ2.htm
2006-09-07 11:20:09 · 7 answers · asked by kitkat09 3 in Politics & Government ➔ Other - Politics & Government
Careful of the libs teaching their own agendas!
2006-09-07 11:23:12 · answer #1 · answered by Bawney 6 · 0⤊ 0⤋
That is all crap. The US dollar is no longer on the gold standard. The US dollar was inflated throughout the 1990's as foreign investors traded to buy US stocks. The yen was in the toilet and the Deutch and Swiss marks were near post WWII lows. The British Pound was the only current holding up though even that held near the 1.36- 1.70 range.
With the advent of the Euro, the US dollar lost some of it's shine as a safe haven. Once the stock market fell and we went to war, uncertainty arose thus weakening the greenback even more.
Since we live in a global economy we have to take the good with the bad.
It is true that inflation makes the dollar worth less in terms of goods and services. And it is true that, thanks to Bill Clinton's most favored nation status, China holds billions of US dollars.,
2006-09-07 18:31:15 · answer #2 · answered by mymadsky 6 · 0⤊ 0⤋
If things were so simple maybe, but first the US dollar is not based on gold any longer, or on a debt either...
China is doing well at the moment, what that mean is it will raise tension, usually war,, only then can all this mess be reset. depending on the outcome of that war...
Until then BS after BS will make things crazy and crazier :-(
So here is why we have had so many wars in our history, lots of BS is nothing new to this generation of ours...
US of A did not invented the concept at all, they are only perfecting it
2006-09-07 18:21:51 · answer #3 · answered by ??Dani??? 3 · 0⤊ 0⤋
Some is true...some a bit out there...
China holds alot of our debt (e.g. US Gov Bonds)
Many countries have alot of dollars
Inflation is low now. The dollar has less buying power every year becuase of inflation
If several countries try to squeeze us they can by stopping purchases of our debt. Or even by dumping them on the market.
Not sure where he's getting his unconstituional bit from
2006-09-07 18:24:59 · answer #4 · answered by dapixelator 6 · 0⤊ 0⤋
Unfortunately Yes, ever since FDR took us off the gold standard, which means our money is not longer backed by it's value in gold, only what the government says its worth and what other countries will give for it.
2006-09-07 18:23:25 · answer #5 · answered by roamin70 4 · 0⤊ 0⤋
Sounds like another Economic "Expert" who couldn't make it in the real world so he is now a substitute teacher. Funny, nothing in his premise mentions Supply and Demand!
2006-09-15 12:15:03 · answer #6 · answered by Anonymous · 0⤊ 0⤋
the part about china is they hold alot of our bonds which helps pay for our deficit and one day there going to want there money back.
2006-09-07 18:25:51 · answer #7 · answered by region50 6 · 0⤊ 0⤋