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Coffee Shop
Chinese Republic of Texas
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<blockquote data-quote="bball" data-source="post: 1377702" data-attributes="member: 23752"><p>Now Ron, you're being a bit persnickety here perhaps...</p><p></p><p>1. Of course the physical act of printing money is done by US treasury; however, i believe Butch's point is that the FR dictates the printing (behind the scenes) no secret (anymore) that when the FR wants more money printed, it gets printed. Its the great 'blank check' keeping this country afloat. Which ties into your 2nd point...</p><p>2. Backed by a promise from a deeply indebted government...that has no hope of seeing black ever again. Worth nothing, and i fear the rest of the world is waking up to that fact. Reckoning is coming.</p><p>3. While the primary purpose of currency is to conduct commerce, it is also used to store wealth and provide for a uniform measure of economic value. The storing of wealth is key to Butch's point i believe. </p><p></p><p>Great topic btw.</p></blockquote><p></p>
[QUOTE="bball, post: 1377702, member: 23752"] Now Ron, you're being a bit persnickety here perhaps... 1. Of course the physical act of printing money is done by US treasury; however, i believe Butch's point is that the FR dictates the printing (behind the scenes) no secret (anymore) that when the FR wants more money printed, it gets printed. Its the great 'blank check' keeping this country afloat. Which ties into your 2nd point... 2. Backed by a promise from a deeply indebted government...that has no hope of seeing black ever again. Worth nothing, and i fear the rest of the world is waking up to that fact. Reckoning is coming. 3. While the primary purpose of currency is to conduct commerce, it is also used to store wealth and provide for a uniform measure of economic value. The storing of wealth is key to Butch's point i believe. Great topic btw. [/QUOTE]
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