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
10 hours ago
Sandy posted a video

We’re cooked

We’re cooked
12 hours ago
Sandy posted a photo
12 hours ago
tjdavis posted a video

Tom Horn discusses Masonic view of 2025

Startling perspective by Tom Horn of the upcoming year: 2025
yesterday
cheeki kea posted a photo
yesterday
cheeki kea commented on Doc Vega's blog post Grooming the New Generation of Assassins
"It's a distressing state of affairs when evil leftists hardwire impressionable students and…"
yesterday
Doc Vega commented on Doc Vega's blog post This Memorable Anthem Given by Nick Freitas Hit the Nail on the Head Please Listen!
"Burbia Charlie Kirk's wife is a real firebrand! God bless that poor woman! "
Monday
Doc Vega commented on Doc Vega's blog post This Memorable Anthem Given by Nick Freitas Hit the Nail on the Head Please Listen!
"Burbia thanks for the videos! "
Monday
Doc Vega posted blog posts
Monday
Burbia commented on tjdavis's video
Thumbnail

Charlie Kirk: Grief And Outrage From Turning Point USA in Phoenix

"Early reports said a.second shooter was there. Talk of Dischord chats. Peyton Gendron was coerced…"
Monday
tjdavis posted a video

America In Crisis: Illegals and Drug Smugglers Have Us Beat

An inside look at how bad the situation is at the Arizona/Mexico border. This exclusive tour with retired Arizona Sheriff Mark Lamb reveals just how bad thin...
Monday
Burbia posted a video

Sam Hyde Show: This is You

support the show: https://www.mde.tv/▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬🔥 BUY EXTREME PEACE on MDE.TV 🔥https://www.mde.tv/series/extreme-peace▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬...
Monday
Burbia commented on Sandy's photo
Monday
Burbia commented on Sandy's photo
Monday
Sandy posted a photo
Sunday
tjdavis posted a video

Charlie Kirk: Grief And Outrage From Turning Point USA in Phoenix

We went to Charlie Kirk's Turning Point USA headquarters in Phoenix to talk with people who were there to pay their respects.►Join my community to get exclus...
Saturday
Doc Vega posted blog posts
Saturday
Burbia commented on Doc Vega's blog post This Memorable Anthem Given by Nick Freitas Hit the Nail on the Head Please Listen!
Saturday
Doc Vega posted blog posts
Friday
Doc Vega commented on Doc Vega's blog post A Few More Rats in Your Skull Concerning Charlie and the Rampaging Left
"cheeki kea, Yes that was released on to book sites 19 hours before the tragic event and also there…"
Friday

© 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