What is money worth?greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
"Only the federal Government can take something valuable like paper and ink and turn it into something worthless like paper cerrency"
What is money worth? If the definition of one dollar is 100 cents and one cent is 1/100 of a dollar, ????
-- jim (email@example.com), September 07, 1999
Yeah, if they just left it alone, could use for toilet paper -- now the brown is replace by green.
Seriously, though, this is why it will be so "iffy" in a few months. If money supply contracts, then currency will be more valuable, assuming everything else equal. But if the economy tanks, even though currency may be worth more, the scarcity of goods could still make things more expensive even in terms of the supposedly more valuable currency. That's why you see the recommendations to turn it into real stuff -- food, water treatment, fuel, batteries, Astroglide pussy lube, metals, tools, seeds, etc.
-- A (A@AisA.com), September 07, 1999.
'MONEY' is worth what you can get for it.
No more, no less.
No amount of money will get me a newspaper at the Frogtown general store if the newspaper guy never delivered them. When they are there, all I need is 50 cents.
Our currency is backed by the belief that it will by something of real value. That is what I read from a Dallas Fed Bank Q+A some years ago. In other words, it has value based on faith. Lots of faith, lots of value. Little faith, little value. No faith, toilet paper.
How much faith do you have? For many people money IS their God so they have lots of faith. Let their money fail just once, just once, and that faith will plummet like a dove shot out of the air.
-- Art Welling (firstname.lastname@example.org), September 07, 1999.
Naturally most everyone has seen the new $20 bills. When 75% of your $200 ATM withdrawals are consistently these new ones, I'd say the currency hoarding stampede was about to begin.
-- mary elephant (email@example.com), September 07, 1999.