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re: Is there anyone here who supports fiat curreny/the Federal Reserve?
Posted on 2/13/14 at 8:29 am to LSUnKaty
Posted on 2/13/14 at 8:29 am to LSUnKaty
quote:
Why not double down and accelerate the printing ... oh wait, Obama has
The Federal Reserve =/= The US Government
quote:
How about reserve notes that are actually backed by something?
You would rather your currency be backed by a piece of metal with very little utility value compared to the relative strength of a a country's economy (taking supply into account)? Why?
This post was edited on 2/13/14 at 8:31 am
1
Posted on 2/13/14 at 9:04 am to BennyAndTheInkJets
quote:Who appoints the chairman?
The Federal Reserve =/= The US Government
quote:Because it puts finite limits on the money supply.
You would rather your currency be backed by a piece of metal with very little utility value compared to the relative strength of a a country's economy (taking supply into account)? Why?
If fiat money is so superior and you're opposed to commodity based currency for technical reasons why not just allow both? Then the market can decide which is more secure and which it prefers.
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