Happy 40th Fiat Day!

[Gumby]

Today is the 40th Anniversary of Nixon Ending Gold Standard and Creating Modern Fiat Monetary System

[smurff]

Wow, Gumby, at first I thought you meant someone bought 40 cars!

[Tortoise]

Make a wish!

[Lone Wolf]

Considering that he was breaking a promise that the United States had made with the rest of the world, it's stunning how weak his argument is.  These "speculators" just came out of nowhere and all that money simply printed itself.  Can't be helped!

With gold at $1770 an ounce, I'd say that we're still feeling the reverberations of this epic fail attempt to "defend the dollar".

[MediumTex]

Considering that he was breaking a promise that the United States had made with the rest of the world, it's stunning how weak his argument is.  These "speculators" just came out of nowhere and all that money simply printed itself.  Can't be helped!

With gold at $1770 an ounce, I'd say that we're still feeling the reverberations of this epic fail attempt to "defend the dollar".

There are interesting parallels between Barack Obama and Richard Nixon.  They both inherited a real economic and foreign policy mess from their Texan predecessors, and yet both managed to make their respectives messes worse through inept and confused responses to the issues the country was facing.

I wonder how often the term "balance sheet recession" has been mentioned in discussions between Obama and his advisors.  It wouldn't surprise me if in 20 years Obama admits that he had no real understanding of what kind of economic situation the country was actually in while he was President.

[doodle]

Dear Texas,

Thanks.

Sincerely,

America

[MediumTex]

Dear Texas,

Thanks.

Sincerely,

America

Ron Paul is from Texas.

So am I.

There is something for everyone in Texas.

[AdamA]

Dear Texas,

Thanks.

Sincerely,

America

Ron Paul is from Texas.


So am I.

There is something for everyone in Texas.

I live in El Paso.  Does that still count as part of Texas?

[MediumTex]

Dear Texas,

Thanks.

Sincerely,

America

Ron Paul is from Texas.


So am I.

There is something for everyone in Texas.

I live in El Paso.  Does that still count as part of Texas?

Si senor.