Sunday, November 29, 2015

To Shop Or Not To Shop...That Is The Question.
"The gold and silver certificates disappeared and Federal Reserve Notes replaced them. The Federal Reserve Notes looked similar to gold and silver certificates, but sadly, they were nothing more than a piece of paper that represented a loan from (hence the word “note”) or obligation of the United States, issued by the Federal Reserve.
These Federal Reserve Notes passed as money because the government decreed they were legal tender, and they were backed by “the full faith and credit” (confidence) of the U.S. government. Unfortunately the notes are not money, have no intrinsic value, and are not backed by assets. They are loans to the U.S. government backed by the debts of the United States and the future taxing power of the government."

Happy Shopping!!

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