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I had $22K in the bank and my old SUV was still working fairly well, so I didn& #39;t buy a new one. I just went home, safe in the assumption that my $22K in the bank was as good as a new Ford SUV. In fact,as the weeks went buy I even told my friends I had a "paper SUV">
I had $22K in the bank and my old SUV was still working fairly well, so I didn& #39;t buy a new one. I just went home, safe in the assumption that my $22K in the bank was as good as a new Ford SUV. In fact,as the weeks went buy I even told my friends I had a "paper SUV">
in the bank. All I had to do was "call for delivery"!
The driving force behind this dynamic is in ours and the world& #39;s perception that these dollars are paper versions of "real things". This is the bedrock of a fiat currency and gold futures.
The driving force behind this dynamic is in ours and the world& #39;s perception that these dollars are paper versions of "real things". This is the bedrock of a fiat currency and gold futures.
Everyone, through trading or just plain old interest on CDs has built up an ever larger holding of "paper delivery notices" in the form of $ credits. Like above, these "paper SUVs" have been inflated even as the ability to supply real goods produced in the US, has stayed the same
