A Capable Maid

A Capable Maid - Chapter 83

DragonTrainer

Abe single handedly made the biggest mistake in American history, the second was getting rid of the dollar being backed by gold…

For those who don’t understand, back when currency was made with valuable metal, it would be valuable no matter what country you were in even if the country of origin for the currency no longer existed. Meaning nowadays if the country goes belly up (be it economic, a new government, or just collapse), your money is toilet paper…. Not all countries trade with each other, so your money would be worthless there.

The second: At least the money was backed by something, to the point where you could walk into a bank and have them turn your money into gold (called the gold standard). While the money would still be worthless without the country, you could easily, fairly and equally exchange the paper for gold/silver. Do too the Dollar being back by gold, it also stabilized the economy and helped prevent inflation. The US Dollar is only backed by the strength of the country and nothing else. In fact the US government can print out as much money as they want/need uncontrolled, this leads to too much money in circulation. Which leads to the value of the dollar in your wallet loose some of its value, this is what leads to the loss of value of your money (aka: inflation). The US dollar is quite literally no different than Monopoly money, to the point the federal reserve color coded it to match Monopoly money (look it up, it’s both funny and horrifying). One more thing, the federal reserve and the IRS are NOT US government agencies, they’re private corporations like Walmart, Apple, FedEx (short for Federal Express).

(If you want a example of un-backed currencies becoming worthless, look no further than the first US Civil War. The confederacy had its own currency which became unredeemable when they lost)

Anyway, I apologize for getting on a rant 😂 but hopefully you learned something. The story just triggered me 😉. (I really do find the Monopoly money thing insane though, like WOW)

November 22, 2023 at 1:09 pm

3 Comments

DragonTrainer

Wow 😓 I typed more than I thought….

November 22, 2023 at 1:10 pm

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DragonTrainer

Abe single handedly made the biggest mistake in American history, the second was getting rid of the dollar being backed by gold…

For those who don’t understand, back when currency was made with valuable metal, it would be valuable no matter what country you were in even if the country of origin for the currency no longer existed. Meaning nowadays if the country goes belly up (be it economic, a new government, or just collapse), your money is toilet paper…. Not all countries trade with each other, so your money would be worthless there.

The second: At least the money was backed by something, to the point where you could walk into a bank and have them turn your money into gold (called the gold standard). While the money would still be worthless without the country, you could easily, fairly and equally exchange the paper for gold/silver. Do too the Dollar being back by gold, it also stabilized the economy and helped prevent inflation. The US Dollar is only backed by the strength of the country and nothing else. In fact the US government can print out as much money as they want/need uncontrolled, this leads to too much money in circulation. Which leads to the value of the dollar in your wallet loose some of its value, this is what leads to the loss of value of your money (aka: inflation). The US dollar is quite literally no different than Monopoly money, to the point the federal reserve color coded it to match Monopoly money (look it up, it’s both funny and horrifying). One more thing, the federal reserve and the IRS are NOT US government agencies, they’re private corporations like Walmart, Apple, FedEx (short for Federal Express).

(If you want a example of un-backed currencies becoming worthless, look no further than the first US Civil War. The confederacy had its own currency which became unredeemable when they lost)

Anyway, I apologize for getting on a rant 😂 but hopefully you learned something. The story just triggered me 😉. (I really do find the Monopoly money thing insane though, like WOW)

November 22, 2023 at 1:09 pm

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Miola014

I saw a spoiler that said that one of her dreams would be from the Manhwa “princess with a scalpel”, and i think its awesome that it would be a kinda crossover in the future. I already found it funny shes seeing the actual abe lincoln, but that one will take the cake for me <3

November 22, 2023 at 12:08 pm

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