Printing Money We Can't Back?

[Dana]

So I was talking with my "dad" or more so he was doing most of the talking. He is one of these obsessive types convienced we'll be foraging for food in a year or so due to economic collapse. He was saying that the money Barack is handing he is just printing off without anything to actually back it. Is this true? The conversation went on about him printing trillions of dollars out of thin air and printing trillions for the International Bank with nothing to back it on. I frankly am sleptical of his views, because he's one of those types that could be reading faulty information and I sadly don't keep up on current government affairs as much as I should.

 

[canidae]

We use to have gold to back up every dollar we printed. Now . . . ever heard the term, "it's not worth the paper it's printed on?"

 

[Dana]

We use to have gold to back up every dollar we printed. Now . . . ever heard the term, "it's not worth the paper it's printed on?"

Yup..

 

[cody black]

I dont think money is just being printed with out a back up. that would be catastrophic.

 

[canidae]

I dont think money is just being printed with out a back up. that would be catastrophic.

Yes, it could be . . . as I understand it, the money made by the government is backed by the government declaring it is worth something. So, I guess we'll just have to take their word of for it.

 

[LetsAllConform]

All hail the gov