Currency

[Woodsprite]

Originally Posted by Sempu

Talk about a set-up

Answer: Not much. The US government has been printing money like crazy. If the US dollar weren't the world's reserve currency, it would long ago have succumbed to hyperinflation. Still might. Probably will. Some foreign rating service dropped the USA bond rating to AA recently, can't find the article. This one has some of the scary info: Obama Pays More Than Buffett as U.S. Risks AAA Rating (Update3) - Bloomberg

Bottom line: in the next few years, things are going to get uglier economically than people have seen for at least 80 years.

That's my point, though. If the paper isn't backed by much at all, doesn't that make it almost worthless? That is, if the paper doesn't have a standard, wouldn't that make it relatively easy to inflate? Wouldn't that explain why the U.S. dollar is worth much, much less than it was 10 years ago?

...Doesn't everyone know this?