Topic: Who owns currency?
Catherine !TGirlYJKXM started this discussion 12 years ago #35,013
Seriously, who actually owns currency?
Catherine joined in and replied with this 12 years ago, 10 minutes later[^] [v] #481,922
Do you think that horses can feel love?
DasSheeple joined in and replied with this 12 years ago, 3 hours later, 3 hours after the original post[^] [v] #481,924
I own some of it, a tiny tiny part...
Fake anon !ZkUt8arUCU joined in and replied with this 12 years ago, 50 seconds later, 3 hours after the original post[^] [v] #481,925
The Jews.
HaikerensGuide !TBODHONKEY joined in and replied with this 12 years ago, 1 minute later, 3 hours after the original post[^] [v] #481,926
TTEH !JXsxEkDBLs joined in and replied with this 12 years ago, 1 hour later, 4 hours after the original post[^] [v] #481,929
It's a mystery is what it is.Anonymous G joined in and replied with this 12 years ago, 2 hours later, 6 hours after the original post[^] [v] #481,936
OP
Around my hood Bank of America Chase bank TDAmeritrade (World headquarters jest north of me) Fidelity.
Money is actually a lot like Gossamer: something light, delicate, or insubstantial
Light cause its easy for anyone to pull it out of my wallet. Delicate cause again its easy to pull it out of my wallet. Insubstantial because its intangible, as it tries to remain in my wallet.
Around my hood Bank of America Chase bank TDAmeritrade (World headquarters jest north of me) Fidelity.
Money is actually a lot like Gossamer: something light, delicate, or insubstantial
Light cause its easy for anyone to pull it out of my wallet. Delicate cause again its easy to pull it out of my wallet. Insubstantial because its intangible, as it tries to remain in my wallet.
Anonymous H joined in and replied with this 12 years ago, 51 minutes later, 7 hours after the original post[^] [v] #481,937
@OP
China.
China.
Broseph !!fxnDb+Ve4 joined in and replied with this 12 years ago, 35 minutes later, 8 hours after the original post[^] [v] #481,950
You own the value behind it but the Federal Reserve bank owns the actual bills and coins. For example, look at executive order 6102, when Franklin D. Roosevelt ordered that all gold coins, bullions, and gold certificates be turned in. Everyone was given face value of that currency when it was turned in, but the government had the "right" to recall all that currency. This is debatable though, as some do consider it to be one the biggest injustices of the U.S. government, especially since the price of gold skyrocketed as soon as they did it. Ownership itself can be murky concept sometimes.
Syntax replied with this 12 years ago, 15 minutes later, 8 hours after the original post[^] [v] #481,962
@previous (Broseph !!fxnDb+Ve4)As someone who has collected such Gold for many a years - Going back to when it was still Chump change
Ownership of the now non backed bills is murky cause one wood have to pay off China in bills not worth so much anymore. A bunch of others we borrow from including them Brits.
Catherine !TGirlYJKXM (OP) replied with this 12 years ago, 7 hours later, 15 hours after the original post[^] [v] #482,006
@481,950 (Broseph !!fxnDb+Ve4)
So the U.S. government owns the currency, we just barter/rent with it.
So the U.S. government owns the currency, we just barter/rent with it.
Syntax replied with this 12 years ago, 11 minutes later, 15 hours after the original post[^] [v] #482,008
@previous (Catherine !TGirlYJKXM)
I don't believe US Gov owns the currency at all. Its just paper that often looses much value.
There are recent examples of countries that have used wheel barrels filled to brim with money just to buy a loaf of bread.
Try this in Google Images "world economy graph statistics"
I don't believe US Gov owns the currency at all. Its just paper that often looses much value.
There are recent examples of countries that have used wheel barrels filled to brim with money just to buy a loaf of bread.
Try this in Google Images "world economy graph statistics"
Meta joined in and replied with this 12 years ago, 2 minutes later, 15 hours after the original post[^] [v] #482,009
@OP
Whoever has it in their wallet at the moment.
Really, though, since the Federal Reserve has legal control over printing Federal Reserve Notes and can devalue the currency at will, you're really at the mercy of the Fed. But you own the green scraps of paper.
Whoever has it in their wallet at the moment.
Really, though, since the Federal Reserve has legal control over printing Federal Reserve Notes and can devalue the currency at will, you're really at the mercy of the Fed. But you own the green scraps of paper.
Syntax replied with this 12 years ago, 7 minutes later, 15 hours after the original post[^] [v] #482,013
@previous (Meta)
Last year Federal reserve needed a paltry $85 Billion to buy Bonds. They did not even waste paper by printing more worth then less money. They just made a bookeeping entry.
So they create on paper reserve balances. On paper in accounting it just shows up as a new liability. In theory I can do that as well but I have to pay interest. So Feds can print more paper and at same tyme make accounting mumbo jumbo.
Last year Federal reserve needed a paltry $85 Billion to buy Bonds. They did not even waste paper by printing more worth then less money. They just made a bookeeping entry.
So they create on paper reserve balances. On paper in accounting it just shows up as a new liability. In theory I can do that as well but I have to pay interest. So Feds can print more paper and at same tyme make accounting mumbo jumbo.
Broseph !!fxnDb+Ve4 replied with this 12 years ago, 1 hour later, 17 hours after the original post[^] [v] #482,022
@482,006 (Catherine !TGirlYJKXM)
Since the Federal Reserve is not entirely part of the government, no. They are a semi-private entity. They could, in theory, order everyone to turn in all their 20, 50, and 100 bills to replace them with more counterfeit-proof versions. They'd give you the newer versions in exchange for the older versions. You own the money, but they own the currency. Since this would require an executive order and would a real hassle, instead they just print the new currency and retain the old currency whenever they get their hands on it. For example, if you had a bunch of old 20s, 50s, and 100s hoarded away somewhere and you took them to the bank and deposit them into your checking account, the bank would most likely send the old bills to the Federal Reserve to be taken out of circulation, but of course the balance remains in your checking account.
Here's another way of looking at it. On the back of your debit card, there is usually a note saying that the debit card itself is the property of the bank. Obviously it's your money "on" the card though. Currency is similar but on paper.
Since the Federal Reserve is not entirely part of the government, no. They are a semi-private entity. They could, in theory, order everyone to turn in all their 20, 50, and 100 bills to replace them with more counterfeit-proof versions. They'd give you the newer versions in exchange for the older versions. You own the money, but they own the currency. Since this would require an executive order and would a real hassle, instead they just print the new currency and retain the old currency whenever they get their hands on it. For example, if you had a bunch of old 20s, 50s, and 100s hoarded away somewhere and you took them to the bank and deposit them into your checking account, the bank would most likely send the old bills to the Federal Reserve to be taken out of circulation, but of course the balance remains in your checking account.
Here's another way of looking at it. On the back of your debit card, there is usually a note saying that the debit card itself is the property of the bank. Obviously it's your money "on" the card though. Currency is similar but on paper.
(Edited 54 seconds later.)
The Captain !PundosRBSM joined in and replied with this 12 years ago, 1 hour later, 18 hours after the original post[^] [v] #482,025
WHOS THAT POKEMON? joined in and replied with this 12 years ago, 43 minutes later, 19 hours after the original post[^] [v] #482,033
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Vault !UmnMmNadis joined in and replied with this 12 years ago, 6 hours later, 1 day after the original post[^] [v] #482,068
Possibly the Government run aside the banks who run over the businesses that control the people?
Money is just the material and immaterial way of being able to do that.
Banks own all the money and the government need it, so it could be the government submit to them, give sovereignty so they both get their way
and if everybody in the whole world took every penny from their banks, society and everything would completely collapse and probably wouldn't exist
imo lol
Money is just the material and immaterial way of being able to do that.
Banks own all the money and the government need it, so it could be the government submit to them, give sovereignty so they both get their way
and if everybody in the whole world took every penny from their banks, society and everything would completely collapse and probably wouldn't exist
imo lol