You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #5: Most of the world's currency is fiat currency - meaning its value exists because some [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
Veritas_et_Aequitas Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-24-09 08:01 PM
Response to Original message
5. Most of the world's currency is fiat currency - meaning its value exists because some
institution says it exists and enough people believe in it.

Remember Peter Pan when Tink was dying? The kids all had to believe in fairies and clap their hands in order to save her. Well, that's essentially what money is. It doesn't have a corporeal existence - it's mostly numbers on various computers. So technically, the money's no where.

Printer Friendly | Permalink |  | Top
 

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC