Wednesday, July 18, 2012

What is Money?

smorgashbord of paper moneyThere was a time when paper money was a certificate of obligation, backed by precious metals.  That was a long time ago. 

Today, all around the world, paper money is nothing more than a debt-based note, or credit issued by fiat decree from every government in existence.

The chart below along with article link may provide some clues.

What exactly is in your wallet?

Gold vs Dollar Chart -

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