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Still Growing · 09-17-2008, 06:01 PM

We really shouldn't need another currency, its a shame we even have to discuss it. The question is "Who does the USD belong to as a currency?"

Does it belong to the people? Does it even belong to the US Gov't? If you look at the USD it saids Federal Reserve Note. This gives you the impression that its owned by the gov't since it says Federal. But does it?

Since our Federal Reserve banks are privately held does it stand to reason that they are actually backed by these private guys? The USD doesn't say "Federal Reserve Board of Directors Note" so therefore the USD isn't technically gov't backed.

We could argue symantics however if it walks like a duck, quacks like a duck and you see duck **** everywhere.... well...

09-17-2008, 06:01 PM	#80 (permalink)
Still Growing Senior Member Join Date: Nov 2006 Posts: 909	We really shouldn't need another currency, its a shame we even have to discuss it. The question is "Who does the USD belong to as a currency?" Does it belong to the people? Does it even belong to the US Gov't? If you look at the USD it saids Federal Reserve Note. This gives you the impression that its owned by the gov't since it says Federal. But does it? Since our Federal Reserve banks are privately held does it stand to reason that they are actually backed by these private guys? The USD doesn't say "Federal Reserve Board of Directors Note" so therefore the USD isn't technically gov't backed. We could argue symantics however if it walks like a duck, quacks like a duck and you see duck **** everywhere.... well...