Wednesday, October 14, 2009

MSN MONEY: Your dollars are just Monopoly money

Since Nixon severed gold from the greenback in 1971, the dollar's comparative value has fallen 97%. Money printing today will only hasten the currency's destruction.

By Bill Fleckenstein

MSN Money

Give it up for the real rock star Let's face it.

Dollars -- the things we call money -- are simply pieces of green paper. They are just a state of mind. They have no intrinsic value and are just wampum. Thus, they're not worth anything. Furthermore, all paper currencies historically have lost all of their value.

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