Quote (Sammy123 @ 1 Aug 2011 12:03)
So you think the world economy will fall within 10 years from now just because people will wake up and say "oh my god, this isn't money... THIS IS PAPER!!!"
What ivy league school do you teach economics at?
The value of the so called paper , is backed up by a country's silver and gold reserves right?
Well , what if the currency is based on a silver/gold reserve that is 10 or more times bigger then that the vaults actually hold?
Then hyperinflation would occur , why do you think they keep it all a secret?
As you can already see on the current market , the price of "virtual" silver (silver stocks) is lower then the price of buying an actual 10tounce silver ingot , why you may ask? well becouse they are "printing" silver as they are currently "printing" extra dollars.
And you know what happens when a company gives out more stocks?
Then ALL the other stocks get less valueable!
What do you think is currently happening to the US economy?
And to come back to your FG vs Dollar argument , i didn't even mention it in my post, OFCOURSE forumgold is nowhere near a "real" currency , so yes you are obviously right on that part.
This post was edited by Shadirrasda on Aug 1 2011 04:19am