D. Jay Newman wrote:
>> Rome was destroyed by mob rule. The mob simply voted themselves funds
>> from the public chest
>> until theren't enough gold left to pay the troops to protect the empire.
>> This is what is happening in
>> the USA now.
>>     
>
> Sort of. The problem is that money is like stock: it only has value
> because people believe it does.
>   
er, actually, no. Roman coins had intrinsic value of gold or silver. The 
VALUE can't be changed
with gold or silver.

> When people lose faith in their government they tend to lose faith in
> their money.
>   
agreed.

>   
>> The US treasury has been looted so badly that as soon as potential
>> investors realize that "the
>> emperor has no clothes" it will be all over. The public debt is so great
>> here that no amount of taxation
>> can restore a tolerable balance, and anyone with a clear head knows it
>> will never be paid back with
>> specie (real money, i.e. gold), only more fake (paper money).
>>     
>
> I also believe that the US has amassed too much debt. However, it is
> possible to change this. Though I do believe that our standard of living
> will drop.
>
> And why should currency be backed with gold? Can you eat gold?
>   
Sure you can. Take a look at what happened to Germany after WW I. A 
wheelbarrow of currency
could not purchase a loaf of bread. Adolph Hitler became a hero when he 
returned the German
Mark to the gold standard. When the German Mark became redeemable in 
gold, its value returned.
'course, he got the gold by force from rich Jewish  families, but that's 
another story.
>   
>> The present US system is a "Ponsi" scheme; new funds are used to assuage
>> new investers, so that
>> nobody notices that there is no depth. When the real war breaks out
>> against an oil-funded nuclear
>> Iran, Pakistan, and No Korea, there will be no funds available to  
>> fight it.
>>     
>
> All currency schemes are Ponsi schemes.
>   
If they are not backed by specie, I agree. Specie-backed currencies 
rarely lose value. Look at the Swiss.
>   
>> Luckily, my health isn't very good, so I will be gone before I see this
>> happen. I give us about 5-7 years
>> here.
>>     
>
> I'm sorry; I hope that your health improves.
>   
Me, too. Bad genes.

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