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Matty_
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Reged: 01/25/08
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Re: You read it?
04/11/11 12:56 AM


> Our currency isn't backed by tangible assets like gold anymore.
> Once we dropped the gold standard, the rules changed.

And that's exactly why the government must levy tax - it gives the currency value. Now that the USD isn't based on a gold standard, the only way to give it value is to create demand for it. The US government does that by levying taxes that must be paid in USD - this creates a situation where the USD has value because it's the only thing that can be used to pay US taxes.







Entire thread
Subject Posted by Posted on
* Seven Deadly Innocent Frauds of Economic Policy krick 04/10/11 05:48 PM
. * S&P downgrades US debt from "stable" to "negative" GatKongModerator  04/20/11 05:45 PM
. * Re: S&P downgrades US debt from "stable" to "negative" twistyAdministrator  04/21/11 02:16 PM
. * Re: S&P downgrades US debt from "stable" to "negative" Gor  04/20/11 06:18 PM
. * Re: S&P downgrades US debt from "stable" to "negative" GatKongModerator  04/20/11 08:29 PM
. * Re: S&P downgrades US debt from "stable" to "negative" PokeMAME  04/20/11 08:44 PM
. * I remember learning the US Dollar is actually... dfrance  04/11/11 01:28 AM
. * You read it? GatKongModerator  04/10/11 07:50 PM
. * Re: You read it? Vas Crabb  04/10/11 11:58 PM
. * Re: You read it? krick  04/10/11 08:15 PM
. * Re: You read it? Matty_  04/11/11 12:56 AM
. * Hey Kick, can you let me have $50,000? GatKongModerator  04/10/11 11:11 PM
. * Re: Hey Kick, can you let me have $50,000? lharms  04/11/11 12:08 AM

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