Brag : Sociology prof is a balla - Page 3

SkeetyMcdoogle · #21 01-31-2007, 05:45 PM

[ QUOTE ]
OP,
You realize that US currency is backed by gold standard meaning the money does mean something.

[/ QUOTE ]

lolz pudge bad reader or leveling i cant decide

crzylgs · #22 01-31-2007, 05:47 PM

[ QUOTE ]
[ QUOTE ]
that $20 bill is backed in gold that gives it value.

[/ QUOTE ]Except that US Currency isn't backed by the Gold Standard!

[/ QUOTE ]

ZING!

holdme · #23 01-31-2007, 05:47 PM

So all US currency is backed by gold??

Gildwulf · #24 01-31-2007, 05:48 PM

HEY GUYS DID YOU HEAR THE NEWS??? US CURRENCY ISN'T BACKED BY GOLD STANDARD ANYMORE

citanul · #25 01-31-2007, 05:50 PM

[ QUOTE ]
[ QUOTE ]
You are wrong nng2000, american money is not actually backed in 'gold' or any other valuable resource. It's just a form of currency that we have become accustomed to. You don't honestly think for every dollar we have circulating around the U.S. we have an equal amount of 'gold' for it do you....

[/ QUOTE ]

jesus christ. ok, nits. its still backed by the word of the government, thus making it way more valuable than a blank piece of paper.

[/ QUOTE ]

that's i think, kinda the point of the lecture, asshat.

citanul · #26 01-31-2007, 05:51 PM

[ QUOTE ]
HEY GUYS DID YOU HEAR THE NEWS??? US CURRENCY ISN'T BACKED BY GOLD STANDARD ANYMORE

[/ QUOTE ]

obv when we switched to silver -> gold, now we switched to platinum. u heard it here first, us currency = backed by platinum.

PITTM · #27 01-31-2007, 05:51 PM

lol fort knoxaments.

Ineedaride2 · #28 01-31-2007, 05:52 PM

WE'VE LANDED ON THE MOON!

The Young Gun · #29 01-31-2007, 05:54 PM

the dollar is backed by google

phish · #30 01-31-2007, 05:55 PM

[ QUOTE ]
[ QUOTE ]
You are wrong nng2000, american money is not actually backed in 'gold' or any other valuable resource. It's just a form of currency that we have become accustomed to. You don't honestly think for every dollar we have circulating around the U.S. we have an equal amount of 'gold' for it do you....

[/ QUOTE ]

jesus christ. ok, nits. its still backed by the word of the government, thus making it way more valuable than a blank piece of paper.

[/ QUOTE ]

What does that mean, that it's backed by the 'word of the US government'?

The Prof is right. That $20 bill is worth something only because we all agree collectively to accept it in payment for $20 worth of goods or services.

Let's say some horrible catastrophe happens in the world and gasoline or food becomes extremely scarce. Well your tons of paper money is now good only for making a fire, cause ain't no one gonna accept it anymore for real goods like gasoline or food.