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Old Aug 9, 2007 | 08:15 AM
  #42  
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Nightshade
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Joined: May 2001
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From: My own level of hell
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Originally Posted by 98CoupeV6
Then explain to me how I don't know what I'm talking about.

What backs up our money? Gold and credit. We have far more credit than we do gold in Fort Knox. It IS just glorified paper, a promissory note by the Treasury Department. (edit: I couldn't remember at the time, but this is called Fiat money or Fiat standard or something like that)

I never said we actually do print more money to cover debt I said we CAN. What is it with you and picking out 3 words of a 50 word post to argue with?
Because those 3 words make your statement a complete fallacy
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