Originally Posted by NateR
What's really scary is reading some of the comments on that YouTube video. Some people just have no clue whatsoever how the monetary system works. If your money is not backed up by something real, like gold or silver, then the only thing giving it value is the "good name" of the government that is printing it.
President Obama has already spent 36 billion dollars for every day he's been in office (likely the most fiscally irresponsible act in US history). How long is our "good name" as a nation going to last?
People don't think it can happen in America, but that kind of attitude is what guarantees that it WILL happen.
Yes and on top of that, we have become so dependent on foreign goods that it will be a matter of time before the rest of the world tell us "your money is no longer good here". THAT or they'll triple or quadruple the price of anything we buy.
I heard that Obama says he would like to cut the deficit in half by 2013.....I would like to hear how he is going to do it!