Hi Jenny,
Maybe I was unclear.
Real estate, because of it's value being closely tied to DEBT is in trouble.
Not only that- I consider all real estate as the owner actually renting the right to own from whatever TAXING agency is taking taxes from said estate owner. Stop paying property tax and see just how long you retain the place.
You are on good ground with your understanding of the history of paper money, except:
The Goldsmiths of long ago would issue receipts for gold and silver deposited to them.
The receipts were much more convenient in everyday use than the precious metals.
The Goldsmiths, realizing only a fraction of the depositors ever came back for the real stuff, could not resist the temptation to issue some receipts and buy or trade these unbacked "Notes" for whatever their crooked little hearts desired. Not the first Scam ever invented.
As time went by, the Goldsmiths became "Bankers" but the scam never went away.
Finally they just dumped the pretense of a Gold reserve completely.
They still do believe in gold and silver, only they keep it to themselves.
This is the reason why the big stash of gold held in the bottom of the Twin Towers was trucked out before the place was bombed.
Fort Knox may or may not have the real stuff there, which is why I heard the Germans were ticked off about missing German gold held here.
But that is another story.
Fake money is money backed by nothing. This would be "Federal Reserve Notes".
I am actually happy for "Quantative Easing" (hyper driving the printing presses) because I am still here.
But one day, the chickens come home.
Maybe I was unclear.
Real estate, because of it's value being closely tied to DEBT is in trouble.
Not only that- I consider all real estate as the owner actually renting the right to own from whatever TAXING agency is taking taxes from said estate owner. Stop paying property tax and see just how long you retain the place.
You are on good ground with your understanding of the history of paper money, except:
The Goldsmiths of long ago would issue receipts for gold and silver deposited to them.
The receipts were much more convenient in everyday use than the precious metals.
The Goldsmiths, realizing only a fraction of the depositors ever came back for the real stuff, could not resist the temptation to issue some receipts and buy or trade these unbacked "Notes" for whatever their crooked little hearts desired. Not the first Scam ever invented.
As time went by, the Goldsmiths became "Bankers" but the scam never went away.
Finally they just dumped the pretense of a Gold reserve completely.
They still do believe in gold and silver, only they keep it to themselves.
This is the reason why the big stash of gold held in the bottom of the Twin Towers was trucked out before the place was bombed.
Fort Knox may or may not have the real stuff there, which is why I heard the Germans were ticked off about missing German gold held here.
But that is another story.
Fake money is money backed by nothing. This would be "Federal Reserve Notes".
I am actually happy for "Quantative Easing" (hyper driving the printing presses) because I am still here.
But one day, the chickens come home.
