Somewhere around 1973 the government began printing money without the gold reserves to back it up. At that point money stopped being money and became a currency. Gold on the other hand is money and currency even today. When we get low on money we just print more of it to cover our debts. Approx. 44% of our nation's debt is to other countries and our spending is out of control. President Bush has spent more money while in office than all of the other U.S. Presidents combined. I don't know about you but I am very concerned about our nation's debt. Any ideas on how to fix it?
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Saturday, May 24, 2008
The Mighty $
Somewhere around 1973 the government began printing money without the gold reserves to back it up. At that point money stopped being money and became a currency. Gold on the other hand is money and currency even today. When we get low on money we just print more of it to cover our debts. Approx. 44% of our nation's debt is to other countries and our spending is out of control. President Bush has spent more money while in office than all of the other U.S. Presidents combined. I don't know about you but I am very concerned about our nation's debt. Any ideas on how to fix it?
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