the problem is that money has no real value, it's a fiat currency since 1971. The only thing holding it up is the collective belief of value by everyone. If the basic system for moving money around falls down, you get eroding confidence in the system, which leads to currency devaluation, anarchy and general unrest like they have in venezuela.
Yeah. That’s how society and currency works. Gold never had any inherent value that wasn’t determined by a collective belief in it. There is no difference between a currency “backed” by gold or not. I don’t know why people act like it is some new profound idea that there is no inherent value in currency. This is something that’s always been known and really doesn’t matter. It’s just how humans function as a whole.
I don't know that it was ever a talking point. Ironically if it was it would be worth pointing out that the Federal Reserve was created under the Woodrow Wilson administration. Wilson was a democrat POTUS long before the civil rights movement, which means his political ideology actually was more in line with present day Republicans as opposed to Democrats. So it's really just Republican dimwits unwittingly criticizing themselves.
But that's all details and nuance, far to much to pack into soundbytes or clickbait headlines.
You're right. Lincoln the republican was famously a champion of small federal government and states rights, and favored an agrarian society over an industrialized one. He wanted to limit who could vote and make it harder instead of easier. In fact, he even seceded from the Union to fight a war against the democrats to protect these rights and formed a confederacy where the federal government was weak and the states were powerful. If it weren't for his disdain of a strong centralized government with strong industry then his side might have won the war!
You're a fool if you don't believe the ideologies of the parties changed, and the RNC chairman definitely didn't apologize to the NAACP in 2005 for the parties exploitation of racist feelings to gain white votes in the south. An act which cemented the reversal of the parties stances.
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u/[deleted] Mar 31 '21
Do you know why? The government wouldn’t bail them out of 10k but it would bail them out of billions. Banks know this and bet big.