Meanwhile, as Nato busily arms Al Qaeda in Syria, the FBI are on the trail of the 'real' extremists - people who 'think' (sic) that the USA went bankrupt when it went off the Gold Standard.
Well, that statement is pretty much apodictically true. The USA had debts equal to a set amount of gold. Under Nixon, it repudiated the link between the dollar and gold, because it could no longer continue the charade that it could cover its debts in gold. If you can't pay your debts, you are bankrupt. QED.
Anyway, here's Max talking about that and other matters, such as MF Global and the curious case of the 'vaporized' billions.
Well, that statement is pretty much apodictically true. The USA had debts equal to a set amount of gold. Under Nixon, it repudiated the link between the dollar and gold, because it could no longer continue the charade that it could cover its debts in gold. If you can't pay your debts, you are bankrupt. QED.
Anyway, here's Max talking about that and other matters, such as MF Global and the curious case of the 'vaporized' billions.
2 comments:
I kinda think Gold is money and Fiat paper isn't.
So now I'm a terrorist because I want to blow stuff up? No, non-aggression principle trumps that one. Well maybe I'm not paying taxes? (note the conflation of tax-dodger with terrorist by the way) Nope, the accounts were signed off and returns submitted by Jan 31. What about not obeying the laws? No, not even a speed camera has evidence of any law-breaking for me.
So it must just be the fact that I don't think the Mugabe route to riches is very sensible and oppose counterfeiters who ever they are.
Right, have to add this one just now.
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