2007年11月8日星期四

What is the definition of "DOLLAR"?

Everyone of us gets up early in the morning and go to work. For what? To make money! But what is money in the first place? Surprisingly, virtually all people readily accept this creation. Stop and think really carefully, I mean if we ever have the courage and curiosity to challenge the fallacy in our daily lives.

Why is an ounce of gold defined in terms of dollar? Why shouldn't a dollar be expressed in terms of a certain weights of gold? Why in terms of gold, and not silver, copper, bread, car, or whatsoever?

I have included a couple of links which try to address this vital issue.

http://www.seek2know.net/money.html

http://www.geocities.com/tthor.geo/debasedmoney.html

http://www.uhuh.com/unreal/lincoln.htm

http://www.fee.org/publications/the-freeman/article.asp?aid=3102

http://www.mises.org/article.aspx?Id=1503

http://www.answers.com/topic/gold-standard-act

http://www.rbs2.com/gold.pdf

Also, I have included some excerpts from my favourite documentary - America: Freedom to Fascism

http://www.youtube.com/watch?v=v0JEINTdc08
http://www.youtube.com/watch?v=OPiF7bne70Y

http://www.youtube.com/watch?v=TuXc1WleFUM

Finally, I want to end today's blog by quoting a statement from Abraham Lincoln on monetary policy.

No duty is more imperative on the Government than the duty it owes the people to furnish them with a sound and uniform currency, and of regulating the circulation of the medium of exchange so that labor will be protected from a vicious currency, and commerce will be facilitated by cheap and safe exchanges.