Posted by trucker40 on January 09, 2009 at 09:24:52 from (69.155.104.208):
In Reply to: OT/Gold posted by Tractor,Tractor on January 09, 2009 at 08:06:58:
If all of the money was backed by Gold again the value of an ounce of gold would be worth $2000.00 dollars.This is from Wikipedia.
This is a simplistic way to look at it but here it is.We went bankrupt,the whole world went bankrupt,due to inflation,caused by us taking our money off of the gold system.England was bankrupted by WW2.
Nobody has money backed by gold now.
It gets real complicated after that.One thing I know is the crops we raise and sell to other countries is some of our worth,that amount of gold in Ft Knox,if its still there is some,natural resourses,and people in the workforce.
Besides that I dont know.Im sure illegal activity figures in too like drugs and just plain stealing.So its way out of my understanding as what is figured nowdays.I know its painful on us when we change ways of doing things.There was way less inflation when it was backed by gold.We have been sold out for the most part,and now they are spending the GDP before it even comes in for the year,that means more inflation and higher interest rates most likely for years to come,unless we can get something to raise our worth to where inflation doesnt hit so hard,which would be a big rise in the economy for everybody,which raises wages to where inflation doesnt matter.Not likely to happen.If this doesnt happen people on the low end will be in real bad shape when the price of everything more than doubles or triples,and nobody,not even rich people will be doing good.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Ford Part Number Trivia - by Forum Participants. "Replaced by" means the part was superseded. All of my part books date back to 1964 and New Holland have changed some part numbers. They usually put the old Ford part number on the package. I was suppressed when I looked up the part number of the auxiliary drive shaft because for some reason the part number went through a radical change and it lost its "Basic Part Number". Ford part numbers follow the following rules. Most part numbers are in three parts. The middle part is called the
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
