2007-11-12 02:24:35 · 4 answers · asked by Mogollon Dude 7 in Politics & Government ➔ Politics
Governments have tried to replace gold and sliver with paper money with faith only as value, it has failed every time, It's fast fail America now.
2007-11-12 02:43:05 · answer #1 · answered by lonetraveler 5 · 1⤊ 1⤋
Any money, even gold, is only as good as the faith we put into it.
How else can you explain gold selling for virtually the same price it did 27 years ago, when the dollar has lost more than a 3rd of it's value due to inflation?
What happens if we all turn to gold for our money, and some major new goldstrikes are found? What happens if society crumbles? Gold will be worth nothing, but things like canned food and fuel will be priceless.
My point being, there is nothing magical about gold, and Federal Reserve Notes have served us well for 70+ years now.
2007-11-12 02:36:20 · answer #2 · answered by Uncle Pennybags 7 · 0⤊ 2⤋
Monetary value has always been an agreed upon value, whether it's shells, wampum, or dollars. There is currently little faith in the dollar because our current government has put us so far into debt that no one believes we can pay it off.
2007-11-12 02:44:31 · answer #3 · answered by mommanuke 7 · 1⤊ 1⤋
Yup, printed at will by the traitors in the FED. We are a system of a down.
2007-11-12 02:28:42 · answer #4 · answered by Anonymous · 1⤊ 0⤋