K Then the (((SEC))) has no regulatory power over them. Neither does the (((IRS))).
K
Then the (((SEC))) has no regulatory power over them. Neither does the (((IRS))).
They can't print more of them thus their angst.
They can't print more of them thus their angst.
Criminals don't like competition.
Criminals don't like competition.
OY VEY! These aren't valid assets goy! Whaddya mean? Of course you have to pay taxes on transactions, it's money!
OY VEY! These aren't valid assets goy! Whaddya mean? Of course you have to pay taxes on transactions, it's money!
Gold is money. Everything else is credit.
Gold is money. Everything else is credit.
This is sure ironic since Federal reserve notes are derivative instruments with no assets backing them. Thanks to president Nixon in 1971, gold was removed as the underlying asset, but never replaced with anything.
Sure, at one point, you could argue federal reserve notes were essentially backed by oil. But today, this isn't true. You may try to argue the military backs the currency and 5 years ago, I might agree. Today... not so much.
This is sure ironic since Federal reserve notes are derivative instruments with no assets backing them. Thanks to president Nixon in 1971, gold was removed as the underlying asset, but never replaced with anything.
Sure, at one point, you could argue federal reserve notes were essentially backed by oil. But today, this isn't true. You may try to argue the military backs the currency and 5 years ago, I might agree. Today... not so much.
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