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Forum Post: Reality Check: The money in your pocket is worth less than the cost to produce it?

Posted 12 years ago on Nov. 29, 2012, 9:29 a.m. EST by john23 (-272)
This content is user submitted and not an official statement

http://www.fox19.com/story/20211689/reality-check-the-money-in-your-pocket-is-worth-less-than-the-cost-to-produce-it

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[-] 1 points by ivyquinn (167) 12 years ago

1912, FED reserve was forced upon us by congress. This system ended our former system of FIAT money, in which was suppose to connect precious metals/commidity to every dollar spent. Now our society is propped up by mass priniting of notes that are not connected to any commidity or value. FIAT money is finite and throughout history have propped up economies right before an economic collapse occurs. We need to put the system back into the hands of the people.

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[-] 1 points by geo (2638) from Concord, NC 12 years ago

Currency today is a counter, a place marker... it is not intended to have a specific value. That value is largely determined by the GDP and employment capacity of the nation... not some commodity.

Money does not equal wealth.

But paper indeed has many more uses than a shiny piece of metal, if you want to talk real value.

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