At least the French Assignats from 1789-1796 were backed by the lands seized from the Catholic Church; they just got over printed “a bit” by the French Welfare State. Since 1971, the Dollar has been backed by nothing and been over printed “a bit” by our Welfare State. Starting in late 2017, the Chinese Yuan became backed by gold (plenty of real 99.99% metal bars; many used to be in Fort Knox). Congress just “printed” another $1.3 Trillion pieces of green paper to kick the can for our Welfare State another three months. The S is about to hit the F in Socialista America.
Overthecliff
April 1, 2018 5:22 pm
Never sign something like this again. We will see in 6 months when this trillion runs out. Is there a pool on this?
At least the French Assignats from 1789-1796 were backed by the lands seized from the Catholic Church; they just got over printed “a bit” by the French Welfare State. Since 1971, the Dollar has been backed by nothing and been over printed “a bit” by our Welfare State. Starting in late 2017, the Chinese Yuan became backed by gold (plenty of real 99.99% metal bars; many used to be in Fort Knox). Congress just “printed” another $1.3 Trillion pieces of green paper to kick the can for our Welfare State another three months. The S is about to hit the F in Socialista America.
Never sign something like this again. We will see in 6 months when this trillion runs out. Is there a pool on this?