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Blanks

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32. Real estate is what is behind the full faith and credit of the US dollar.

Fri Jul 20, 2012, 11:39 AM

Jul 2012

The gold standard is just as stupid as the 'fiat money' concept. Other countries take the dollar because it can be used to purchase real estate in this country.

As long as our country is stable (and doesn't have people running around shooting people in our educational institutions and movie theaters) the dollar is a good stable bit of money.

Any time someone (usually Ron Paul supporters) recommend we go back to the gold (or silver) standard; I just want to scream. If we're going to back the dollar with something it needs to have intrinsic value, and it already is backed by something; our real estate. Unlike gold which is difficult to create; we already have real estate in reserve: Yellowstone, Alaskan Wildlife reserve etc.

Nobody wants to sell them to the Chinese, but they're gonna want something. Hopefully they'll settle for a few skyscrapers and golf courses like the Japanese did.

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Highlight:

Hayes: We Are No Longer Able To Tax The Very Rich In Our Country [View all] ErikJ Jul 2012 OP

This should not fall down the rabbit hole. GoneOffShore Jul 2012 #1

We have the ability to tax them, but not the will. Zalatix Jul 2012 #2

The last time we had huge top tax rate increase was ErikJ Jul 2012 #4

Just read it.... whoah.... 6502 Jul 2012 #21

Ugh...the credit card Lefty Thinker Jul 2012 #23

Real estate is what is behind the full faith and credit of the US dollar. Blanks Jul 2012 #32

Speaking of gold standards - Have you been following the scandal in the UK involving how ecently the truedelphi Jul 2012 #36

Excellent observation! K&R'd. snot Jul 2012 #3

Why don't we call it what it is ----unpatriotic and unAmerican young_at_heart Jul 2012 #5

Yes. Call them for what they are. Economic traitors. AnotherMcIntosh Jul 2012 #19

Really good. K & R freshwest Jul 2012 #6

They have no intention of sharing with (you people) They share, they lose the gentleman's agreement. Tikki Jul 2012 #7

"If you can't, if you can't like Greece couldn't, we see how that goes." SunSeeker Jul 2012 #8

K&R n/t. airplaneman Jul 2012 #9

We need tax treaties. End tax havens like Switzerland & Caymans. limpyhobbler Jul 2012 #10

Good idea, but US respects int'l. organizations only if convenient. closeupready Jul 2012 #26

And why is the TPP truedelphi Jul 2012 #37

K&R Cleita Jul 2012 #11

It should be illegal to hide your money offshore. period. progressivebydesign Jul 2012 #12

++1 Historic NY Jul 2012 #15

Technically, all offshore accounts over $10,000 MUST be reported closeupready Jul 2012 #27

That would be a hobby horse! calimary Jul 2012 #41

Declining societies have elites that refuse to carry their share... midnight Jul 2012 #13

And elites that loot the treasury and resources -stashing them in Swiss banks. ErikJ Jul 2012 #20

K 'n' R hifiguy Jul 2012 #14

K&R me b zola Jul 2012 #16

exactly. n/t RainDog Jul 2012 #17

Spot-on. AzDar Jul 2012 #18

ah bullshit hfojvt Jul 2012 #22

I agree. Blue_In_AK Jul 2012 #25

Yep, them Big Ol' "Job Creators" truedelphi Jul 2012 #38

This too shall pass. Blue_In_AK Jul 2012 #24

Brilliant analysis by Chris Hayes CanonRay Jul 2012 #28

Yes. His comment blew my mind. immoderate Jul 2012 #31

Corruption 101 DallasNE Jul 2012 #29

A wealth tax would solve this problem - if only we could get our legislatures to vote for it! reformist2 Jul 2012 #30

We just need to get rid of all of their tax loopholes and charge them a flat rate that ` avebury Jul 2012 #33

That's one of the things that happened in Rome. lumberjack_jeff Jul 2012 #34

I'm too awed by rich people to consider raising taxes on them. wakemewhenitsover Jul 2012 #35

K&R 99Forever Jul 2012 #39

BFEE Mission Accomplished Octafish Jul 2012 #40

Post removed Post removed Jul 2012 #42

Tax the rich or take a hike. aquart Jul 2012 #43