eric pinto wrote: > From what little I understand of the subject, it belongs to an age when > schooners at quayside exchanged merchandise for a bagfull of coins: > no gold, no deal.
Doc, When the Bank of Canada sold all its gold a few years ago, it gave the following reasons for doing so: 1) Gold did not earn interest 2) It had little or no intrinsic value Today, fiat money: 1) Does not earn interest 2) Has little or no intrinsic value Jim F wrote: > So What did the Republican's spend this money on? > They gave away hefty tax cuts to the uber rich and financing the two wars - > out of which, at least one war was NOT necessary. Jim F, The mantra was "shock and awe." Your taxes were blown up in the desert (or are still being blown up in the desert.) But that is not the sad part. The sad part is since the treasury had no money to spend on two wars, it borrowed money from the Chinese. A large part of the new taxes that the next administration introduces, will be sent to China as interest payments. This is, in my book, worse than sending your taxes to the Queen of England. Lastly, the heading of this post made me remember the following: There once was a rich man who was near death. He was very grieved because he had worked so hard for his money and wanted to be able to take it with him to heaven. So he began to pray that he might be able to take some of his wealth with him. An angel heard his plea and appeared to him. "Sorry, but you can't take your wealth with you." The man begged the angel to speak to God to see if He might bend the rules. The man continued to pray that his wealth could follow him. The angel reappeared and informed the man that God had decided to allow him to take one suitcase with him. Overjoyed, the man gathered his largest suitcase and filled it with pure gold bars and placed it beside his bed. Soon afterward, he died and showed up at the gates of heaven to greet St. Peter. St. Peter, seeing the suitcase, said, "Hold on, you can't bring that in here!" The man explained to St. Peter that he had permission and asked him to verify his story with the Lord. Sure enough, St. Peter checked it out, came back and said, "You're right. You are allowed one carry-on bag, but I'm supposed to check its contents before letting it through." St. Peter opened the suitcase to inspect the worldly items that the man found too precious to leave behind and exclaimed, "You brought pavement?" ML12 2200EST
