Thursday, April 4, 2013

Paper Money Eventually Returns to Its Intrinsic Value--Zero” Voltaire 1729

Continental
It's a $3 bill. What's the saying, "Queer as a three dollar bill"?
‘Not Worth a Continental’… ‘Shin Plaster’… ‘Queer as a Three Dollar Bill’ …
Jim Sinclair writes, "The United States has already experienced two currency collapses.  The first was the Continental Currency the American colonists used to finance the Revolutionary War. While the Americans won their independence, their currency was destroyed in the process.
The second were the Confederation notes. In an effort to finance the civil war with the North, the Confederate States of America issued vast amounts of money. At one point, the Secretary of the Treasury recommended that counterfeit money be utilized. Anyone holding a counterfeit bill was to exchange it for a government bond. The government would then stamp it “valid” and spend it."
dollarsariveiraq372ready
These photos also come from Jim Sinclair's website:
An armed guard poses beside pallets of $100 bills in Baghdad.  Almost $12 billion in cash was spent by the US-led authority.  The US flew nearly $12 billion in shrink-wrapped $100 bills into Iraq, then distributed the cash with no proper control over who was receiving it,or how it was being spent.
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Throughout history no paper currency has survived. “Paper money eventually returns to its intrinsic value – ZERO”. Voltaire 1729 (he has yet to be proven wrong…)

Salman Khan on Treasurt Yield Curve