Re: Question regarding the budget deficit

Paul Gee <paulg123[no spam]@earthlink.net> wrote:

> Well I'm afraid. I'm afraid I don't know what the heck you're saying, Tom.
> Explain your sarcasm to me.

I didn't mean it as sarcasm, but with me it is hard to tell.

Before the US went off the gold standard, you could take a
twenty, a ten, and a five and demand the US government give
you an ounce of gold. The government isn't obliged to give
you anything for the money it issues now. So what's the
value of money today? Somehow we all just agree on what
it's worth. I don't know how or why that works, and I can't
guess what will make it quit working, but whatever will break
our monetary system has stayed away for thirty plus years.
.

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