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please Help me

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  • Are you sure you want to delete this post?

    I have recently become a US citizen, biggest reason is because I do want to vote. I have done my best and studied trying to understand the political system, and sometimes I get into arguments, with friends who does not share my views. To me it's ok to have different opinions,and I do try my best to understand why some people seem to choose what's not in their best interest.

    Anyway, I'm now in an argument with an old friend and I,m trying to respond, but I've googled and can't find an answer that makes sense ? nor do I understand what my (maybe soon to be former friend) is trying to say. I don't feel I'm doing anything wrong by copying his text , since I do not enclose his name, so here it is .

    I questioned what he meant by this line .........the make believe currency has driven this country into the toilet.

    and this is his response, which I don't understand ?

    I didn't make up the make believe currency, the gubmint and the bankers did.
    As fine print explains that paper currency is NOT "Lawful Money", so now you know, Look and you will learn

    I would appreciate if someone could take the time and explain what he means, and how I should reply.

    Thank You

  • Are you sure you want to delete this post?

    In simple terms it means the US $ is only as good as the US government and its economy. It's not backed by gold anymore.

    Now, how strong the US government and its economy is is anther subject altogether.

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    Pr's answer is right on. A country's currency (fiat currency) derives it's value from the ability of it's government to honor it's debt. If a country issues more currency than their economy can absorb in growth, then inflation results. Issue way too much currency and it's called hyper inflation. If it issues too little currency, then deflation and recessions can occur.

    All countries in the world have fiat currencies except a few that use US dollars instead of issuing their own. Ecuador is an example of that. No countries are on the gold standard for good reason.

    Conspiracy theorists latch onto "the Federal reserve note" and make all kinds of ignorant statements about the Federal Reserve. Here are just a few:

    Debunking the Federal Reserve Conspiracy Theories

    The fact remains that during times of economic crises, like the worldwide nose dive in the world's economy at the end of 2008, foreigners rushed to buy dollars. That's because our fiat money was regarded as the safest investment on the planet. I think that says a lot for our currency.

    I should add that our economic recovery is the envy of much of the world. While we still have room to improve, it is a hell of a lot better than most other countries recovering from the global recession. Toilet talk is stupid talk.

  • Are you sure you want to delete this post?
    All currency is fiat currency. Gold only has value because humans decided it did. In actuality it has no more value than any other material except for engineering purposes or jewelry because it is shiny. There are other more rare materials but we do not tie the value of currency to them. Plus there is not enough gold to cover the dollars in circulation, paper or electronic. Gold or any other material is done as a basis for currency.
  • Are you sure you want to delete this post?
    EvaLena, What is your side in the argument? What are you saying that your friend is disagreeing with?
  • Are you sure you want to delete this post?
    Thank You all, I have not responded to my friend yet, because I still don't understand why he says the dollar is in the toilet. In my understanding it's the other way around, and as I just read, many Europeans invest in $. Guess I'll never understand a how a militia man that hates government thinks. He's with Trumps idea of building a wall around USA and live happily ever after in New Hampshire with his guns and no interference from government. He's not wealthy at all, so I'm quite puzzled by his opinion.
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    As someone who lives in NH I can tell you his way of thinking is very common, not only in NH but the whole country, particularly by low information, old white males. People like him have been brainwashed into believing just the opposite of reality (mostly from watching FOX) and the constantly vote against their own best interests. They believe they need guns to protect themselves, that the poor are steeling their jobs, that gays have more rights than they and on and on. There is no reasoning with these types. They are living in their own little world of hate and fear and they are paranoid about change because the fear it will take something from them and give it to someone else.

    I urge you to forget this person and move on as they will never understand the slightest bit of anything you try explain to them!

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    Thank You PR, I may have to take your advice, even since we agreed on never talk about anything political we always end up doing it anyway, and I feel he's totally off his rocker. In our last conversation he claims he hates Hillary, and that she should be in jail ?? I ask him why ? he answer because she lies lies lies .............I ask about what ? his answer EVERYTHING ............ I say, that's not an answer, that's an attitude ..............and here we go again.............I thought 11 hours of questioning about Ben Gazi was the end of that ?

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    There is a good book out there that explains the conservative mindset and what causes them to be so narrow minded and fearfull. It's very informative. Here is a link