online games, multiplayer games
Simcountry is an Online Digital World where you are the President of a country.
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What is Simcountry?
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What is Simcountry?

Social Security index (Fearless Blue)

Simcountry: Simcountry Bulletin Board  Social Security index (Fearless Blue)

John Gresham (White Giant)

Thursday, April 14, 2005 - 10:27 am Click here to edit this post
-you're saying that currency relies on faith. i'm saying that backing up that the currency are men with very big guns. part of the reason that the US invaded iraq is that saddam had changed valuing oil in the petrodollar to the euro. the US wanted to demonstrate to those filthy arabs that the only unforgivable crime is to stop backing the buck.

all currencies must rest on something physically and socially tangible. your supply of gold, your power to steal gold or your *power to kick ass*. dovetails into the point about profit-from-war quite nicely, doesn't it? :)

While it is also a federal crime not to accept dollars and cents as payment when you demand some amount of dollars and cents, I wouldn't say that the currency is backed by men with guns. Men with guns cannot put value on it. They can only enforce its usage. Market forces put value on the dollar relative to other currencies but the value of all currencies relative to resources, goods and services is entirely about perception.

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