Originally Posted by PeaceBlondie

Right. American currency is issued by the Federal Reserve System, which has less than 20 branch banks across the country. Years ago, the U.S. Treasury issued $1 bills that were silver certificates, redeemable in silver bullion (theoretically). Once, all coins were made of metals such as silver or gold, and while it was probably an offense to melt them down, they had value as bullion. Now, the US is neither on the gold or silver standard; the Fed. Reserve is more of a private corporation than a government agency; and its currency and the Federal Bonds issued by the Treasury are still backed by nothing more than 'the full faith of the United States Government." That's the same government that owes more than 7 trillion dollars, but has very few of what you could call 'disposable assets' besides its own fiat paper, which is worth a 1959 Fiat 1100 sedan. Are they going to hold a yard sale in front of the Pentagon and try to sell used tanks and ammunition?

The world's most powerful emperors, George W. Bush and Allen Greenspan, are both far more naked than that phony picture of Saddam in his underwear.