2006-10-17 14:45:13 · 17 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
They will only be rich if people in other countries will accept that money. If not, it's just fancy paper.
2006-10-17 14:46:57 · answer #1 · answered by normobrian 6 · 4⤊ 0⤋
The problem with a country printing its own currency to make itself rich is that the value of its currency would not be worth much on the international exchange market. The exchange rate would become so low that they would not get any real value out of the extra currency they printed.
2016-05-21 22:19:15 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I have wondered the same - but I expect it's to do with inflation, a few years ago Russian printed money which did cause inflation problems.
2006-10-17 14:54:45 · answer #3 · answered by gorse9 1 · 0⤊ 0⤋
the money has to be backed by something tangible like gold. if you print a thousand dollars you must have a thousand in gold to back up the money. today the money in America is backed by the strength of the government. the other day a friend of mine found 2130 dollars from Ecuador. we checked the exchange rate and it was worth
8.3 American cents. the money has to have something to back it up or it will be as worthless as the paper it's written on.
2006-10-17 14:51:37 · answer #4 · answered by Anonymous · 1⤊ 0⤋
You obviously haven't heard the same stories I have... such as the little poor countries that many U.S. organizations send help to such as food, clothing and what not. These items have been found in storage belonging to the rich leaders of these countries. These countries are poor because their leaders are criminals.
2006-10-17 15:05:24 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Money is a certificate of productivity. When any country, including the USA, prints money, that is inflation. The effect of inflation is that prices go up relative to the quantity of dollars (the dollars are diluted).
2006-10-17 14:48:33 · answer #6 · answered by Anonymous · 3⤊ 1⤋
Nations also have "credit ratings".
For the same reason you cant just print money.
2006-10-17 15:01:33 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Printing money without any kind of backing creates un-controlled
run away inflation...
2006-10-17 14:48:54 · answer #8 · answered by Anonymous · 3⤊ 0⤋
printing money with no assets causes inflation,sorta like what happens in Washington every day!!!
2006-10-17 14:52:50 · answer #9 · answered by richard c 4 · 0⤊ 0⤋
because this devalues the currency of the county and no one will accept it for products or services. Germany tried this in the 1920's and it resulted in agiagantic economic depression and hyper inflation.
2006-10-17 14:49:32 · answer #10 · answered by epiento 2 · 1⤊ 0⤋