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<p>[QUOTE="desertgem, post: 1241740, member: 15199"]Slightly out of context. I said </p><p><br /></p><p><br /></p><p>My point was that I think all currency of any country is "Fiat currency". I do not think that any major currency is asset based at this point. Not in gold, silver, grain,oil, beans, etc. , so the health of a fiat currency is generally by comparison with the other fiat currency. When one looks at CDS ratings ( soverign credit default swaps) you can see the opinions with money backing, not just talking heads who have no money in the game.</p><p><a href="http://www.cnbc.com/id/38451750" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.cnbc.com/id/38451750" rel="nofollow">http://www.cnbc.com/id/38451750</a> </p><p><br /></p><p>I am not saying that the economy is getting better as far as jobs, etc. but major US and Multinational companies have trillions of dollars in cash, waiting like us. What I am saying is that in the kingdoms of Fiat kingdoms, the US is close to the least risky financial system. The dollar may well be devalued more, but so might the euro and other currencies, which our strength is measured against.</p><p><br /></p><p><br /></p><p>Yes, I agree, and it is most irritating and I will be taking action in elections toward it, but to discuss it would be Political and that is not allowed <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p><br /></p><p>Jim[/QUOTE]</p><p><br /></p>
[QUOTE="desertgem, post: 1241740, member: 15199"]Slightly out of context. I said My point was that I think all currency of any country is "Fiat currency". I do not think that any major currency is asset based at this point. Not in gold, silver, grain,oil, beans, etc. , so the health of a fiat currency is generally by comparison with the other fiat currency. When one looks at CDS ratings ( soverign credit default swaps) you can see the opinions with money backing, not just talking heads who have no money in the game. [URL]http://www.cnbc.com/id/38451750[/URL] I am not saying that the economy is getting better as far as jobs, etc. but major US and Multinational companies have trillions of dollars in cash, waiting like us. What I am saying is that in the kingdoms of Fiat kingdoms, the US is close to the least risky financial system. The dollar may well be devalued more, but so might the euro and other currencies, which our strength is measured against. Yes, I agree, and it is most irritating and I will be taking action in elections toward it, but to discuss it would be Political and that is not allowed :) Jim[/QUOTE]
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