Game teaches children about wall street bailout

Visit msnbc.com for breaking news, world news, and news about the economy

Views: 41

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by Harry Thomas on December 30, 2009 at 5:14pm
Fiat Family Game Night ,, OMG whats next in this mind war

----------------------------------------------------
Where fiat money is used as currency, the term fiat currency is used. Today, most national currencies are fiat currencies, including the US dollar, the euro, and all other reserve currencies.

The Bretton Woods system pegged the value of the United States dollar to 1/35th of a troy ounce of gold. Other currencies were pegged to the U.S. dollar at fixed rates. The U.S. promised to redeem dollars in gold to other central banks. Trade imbalances were corrected by gold reserve exchanges or by loans from the International Monetary Fund. This system collapsed when the United States government ended the convertibility of the US dollar for gold in 1971, in what became known as the Nixon Shock.

Usually, a fiat-money currency loses value once the issuing government refuses to further guarantee its value through taxation

Fiat currency was anathema to American president Andrew Jackson. Jackson went so far as to pass the Specie Circular in 1836, which required all payment for government lands to be in gold or silver coin.

The Austrian School of Economics has long held that no sound economy can long endure under fiat money[citation needed], with prominent Austrian Economist Ludwig von Mises arguing in his book, Human Action, that, "What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit boom is built on the sands of banknotes and deposits. It must collapse

Ludwig von Mises concluded that it was impossible for a fiat currency to establish itself without initially being based on some commodity to peg its value
-------------------------------------------------------------------

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted blog posts
yesterday
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea I was wrong Emperor Penguins are big and powerful but still alive but this,  A size…"
yesterday
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"Cheeki kea here's another that they say there have been modern sightings of!  The name of…"
yesterday
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea, did you ever hear of the giant Imperial Penguins? They were about 6 feet tall and could…"
yesterday
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea I do not think these giant two legged birds would need to have a bad attitude as long as…"
yesterday
Olivia Brooks updated their profile
yesterday
John Miller was featured
yesterday
tjdavis's 2 blog posts were featured
yesterday
Zfort Group's blog post was featured
yesterday
Doc Vega's 6 blog posts were featured
yesterday
Burbia commented on tjdavis's video
Thumbnail

“What’s His Motive?” - Inside The Mind of George Soros

"Trump calls for George Soros and son to face federal…"
yesterday
Burbia commented on tjdavis's photo
Tuesday
Profile IconSeeta Sathe and Olivia Brooks joined 12160 Social Network
Tuesday
tjdavis posted a video

Mossad, Terrifying CIA Technology, Blackwater & The Most Secret CIA Unit | John Kiriakou

John Kiriakou served 15 years in the CIA as a Case Officer (Spy) and as CIA's Head of Counterterrorism Operations in Pakistan where he lead the raid that cap...
Monday
tjdavis posted a photo
Monday
tjdavis posted a video

A Critique of the Tavistock Institute - The Mother Of All Conspiracy Theories

An examination of the Tavistock Institute, a theory which seeks to explain how Western societies have been brainwashed by a cabal of social scientists and th...
Sunday
tjdavis posted a video

“What’s His Motive?” - Inside The Mind of George Soros

In this short clip, Patrick Bet-David, Sebastian Gorka Adam Sosnick, and Tom Ellsworth George Soros and what motivates him to do the things he does. FaceTime...
Aug 27
Doc Vega posted blog posts
Aug 27
cheeki kea favorited Bob of the Family Renner's photo
Aug 26
cheeki kea commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"If you're ever out there Doc V and notice giant two legged birds roaming the wilderness be…"
Aug 26

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted