tag:blogger.com,1999:blog-2611021408437270881.post6092498970397609563..comments2024-03-18T23:59:39.885-07:00Comments on Skeptical CPA: Dollar Drops 98%Independent Accountanthttp://www.blogger.com/profile/07800220849565219709noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2611021408437270881.post-42978922029340057602009-12-02T13:41:47.359-08:002009-12-02T13:41:47.359-08:00Even Wikipedia knows what is going on...
Reasons ...Even <a href="http://en.wikipedia.org/wiki/Debasement" rel="nofollow">Wikipedia</a> knows what is going on...<br /><br /><i>Reasons for debasement<br /><br />The primary reason a government will debase its currency is financial gain for the sovereign at the expense of citizens. <br /><br />By reducing the silver or gold content of a coin, a government can make more coins out of a given amount of specie. Inflation follows, allowing the sovereign to pay off or repudiate government bonds.[1] <br /><br />However, the purchasing power of the citizens’ currency and standard of living[citation needed] has been reduced.<br /><br />Modern currency debasement takes its form when central banks increase the money supply or “print money” as it is called in the common parlance (though the increase is primarily done electronically now). <br /><br />Recently, in the U.S. the Federal Reserve has embarked on an action called quantitative easing.[2]"</i>Anonymousnoreply@blogger.com