Hi! Hoid:
The only thing backing the currency is "The Promise To Pay On Demand". and which the amount to be "Paid On Demand" can easily be changed by the whim of any government. It is the same with any fractional reserve currency system.
Other than that notes of currency are worthless.
Money is just a "Myth". It is created out of thin air. It is not the government who creates money. It is the banks which do that.
The fable which they sell as “Finance” or “Economic Theory” might very well be a load of crap.
People believe in an Economic Theory in the same way they believe in a God.
People read the bible and they read anything into it that they want. The myth is carried on from generation to generation. But, it is still a myth.
Each theory is just another brand of religion where an economist claims that God is speaking directly to him.
In ancient times of kings and queens, they used to have court magicians.
Nobody knew or understood the magic.
And the magicians even dressed differently than others of the court. (As bankers do today with suits and ties.)
The “Economic System” itself is a “Myth” propagated by “Magicians” who afforded themselves the costs of a higher education and “Purchased” a PHD or an SH?T after their names. The same way that a Christian Preacher attends a religious institution and leaves with a “Certificate Of Christendom”.
Economic “Myth” is “Preached” and “Enforced” by the military and police complex, and when required (and on command), by our religious leaders as well.
Economists perform the same tasks and for the same reason for which magicians played their essential roles during olden times with Kings and Queens.
It is all a “Confidence Myth”.
The Economist has only one mission in life and that is to further propagate the myth with “Magical” charts and drawings and claiming them to be “Truth”. A successful economist must sell his magic in the same way a Jehovah Witness sells their beliefs.
The Federal Reserve members are no different than the myth of the 12 Apostles at the Last Supper.
The economy is moving or changing at the speed of light .... Money is invented at the speed of light .... Simple Computer Monitor Blips.
