Well did you. That stack if paper is not valuable so let me have it and dispose of it. :0)
The coins aren't worth a plug nickle. They are backed by gold bouillion unless there is a new conspiracy theory that Fort Knox is fake too.
Federal reserve notes are, by definition, currency. It is true they are a debt-based currency, though.
I still have a two dollar "silver certificate" bill.
Did you know the the Federal Reserve Bank is as Federal as Federal Express?
no, i didnt know that and no you cant have my dollar bills, theyre mine and i want them
I don't think so .. ever since governments went off the gold standard the amount of currency in circulation does not have to be backed by gold
There is no real currency anymore. I remember my grandfather has a box full of bills that actually stated they were silver certificates. As he accumulated them he never spent them. I don't know what happened to them when he died; I was still a child. But he explained then the importance of the silver certificate and that money not backed up by gold or silver could become worthless in the blink of an eye.
And your point would be?
http://www.theonion.com/article/us-economy-grinds-to-halt-as-nation-realizes-money-2912
Well, they ARE, but they are filled with cheap crap and not worth much.
Not exactly. Other companies (e.g. UPS, DHL, etc.) are allowed to do the same thing FedEX does.
If you want to start a business competing with the Federal Reserve by printing your own currency, you'll find yourself in deep doo-doo with law enforcement in short order.
The point being that while it came into existence through an act of Congress, and the president, with the consent of the Senate, appoints the Board of Governors...it is indeed a privately owned entity, not an agency of the federal government.
Oh, Special.Ed . . . you really don't have a clue, do you? To the back of the short bus for you!
I speak of ownership. Not business operation model, by the way.
The Federal Reserve is owned by the member banks which are privately-held institutions. It's not owned by the Federal government. It's more akin to one of your famous socialist "utilities" with no competition allowed by law. (Remember back before Judge Green broke up Ma Bell? Kinda like that, only with more enforcement teeth against "harmful competition".)
And given that Congress is charged with that task (check Article I, Section 8, Clause 5) it would seem that they have abdicated, I mean delegated that responsibility and authority to private individuals beyond their control.
Right you are Bozette. And ALL those Federal Reserve "officials" subject to Executive appointment with the consent of the Senate are picked from a short list handed down from the boards and executive officers of those privately held banks.
@Salty F***tard -- Since you once gain led off with a fact-free ad homimen, I invite you to go f**k yourself on something spiky and painful.
You are free to not like the Federal Reserve system. You are free to assert it is a bad idea. You are even free to assert that it is a socialized "utility." That statement is pretty much accurate and is congruent with my answer. Just as there were no competitors providing telephone service during the days of Ma Bell, there are no competitors printing money in competition with the Federal Reserve. That is in sharp contrast to Federal Express (your original comparison).
And, of course, you are free to call me an idiot. Unfortuntely for you, when call me an idiot then essentially agree with my answer, it illustrates you as a paradigm of the Dunning-Kruger effect/Special Kind of Stupid . But, hey, you got the emotional satisfaction of calling me a retard before you laid your intellectual shortcomings bare for all to see.
Mr. Cleese? I believe we have another one for the list...;-D...
Dollars have not been backed by gold since the "Nixon shock" in 1971.
I SEE John Cleese but I (figuratively) HEAR Donald Duck. Weird, huh?
I'm treating you with the same respect and civility that you show many others, which is none. You're a real horse's ass (with absolutely no intellectual justification to act as such) when it comes to the way you act toward others who may have views on life that differ from yours.
Perhaps if you stopped acting like such a childish piece of trash, started showing respect towards others, you would start receiving the same in return? Not a chance from you though, right . . .
