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   MEMORIES      Nostalgia for the past... today sucks      24,715 messages   

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   Message 22,805 of 24,715   
   JOE MACKEY to AUGUST ABOLINS   
   Money (was: Cyberpope' back again)   
   16 Oct 21 09:00:22   
   
   TID: PX/Win v3.0pr5 PX96-0466M2   
   MSGID: 1:135/392 12947703   
   TZUTC: -0400   
      Aug wrote --     
      
   > This does not mean that the notes are worthless. The Bank of Canada will   
   continue  to honour them at face value."   
      
      The US money is now based merely on nothing.   
      At one time there was the gold standard, by which all American money was   
   based and if one wanted to cash in their paper money for gold they could.   
      In the '30s Roosevelt took the US off the gold standard (and put it on   
   the silver standard) and actually made it illegal for Americans to own any   
   gold.  (Other than things like jewelry, etc).  One could no longer take a bill   
   to the bank and ask for its val   
      In the '70s Nixon took the US off the silver standard.  That basically   
   made the money worthless since there was nothing to back it up, other than   
   the promise of the government it was worth X amount.   
      Up until then one could cash in their bills for an equal amount of   
   silver.  Not any longer.   
      Joe   
   --- Platinum Xpress/Win/WINServer v3.0pr5   
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