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Welcome to SportTrac.Org
Off Topic Discussion
OT: Richest 2% own more than half the world
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<blockquote data-quote="Richard L" data-source="post: 669298" data-attributes="member: 52972"><p>It all started about 1970-71 when President Richard M. Nixon took the USA off the gold standard and converted our money to plain currancy. This allows the government to print all the money they need when they need it.</p><p></p><p></p><p></p><p>US currency is design to decrease in value from $1 to about 5 cents over a period of 40 years. That's about 4 percent per year for inflation that is built in, yet the government will imply that inflation is in check....Ya, only if it's not over 4%.</p><p></p><p></p><p></p><p>There is also a myth that homes and real estate increase in value over time?? The truth is that the dollar is falling in value and it takes more dollars to buy the same home as it did 20-30 years ago.</p><p></p><p></p><p></p><p>...Rich</p></blockquote><p></p>
[QUOTE="Richard L, post: 669298, member: 52972"] It all started about 1970-71 when President Richard M. Nixon took the USA off the gold standard and converted our money to plain currancy. This allows the government to print all the money they need when they need it. US currency is design to decrease in value from $1 to about 5 cents over a period of 40 years. That's about 4 percent per year for inflation that is built in, yet the government will imply that inflation is in check....Ya, only if it's not over 4%. There is also a myth that homes and real estate increase in value over time?? The truth is that the dollar is falling in value and it takes more dollars to buy the same home as it did 20-30 years ago. ...Rich [/QUOTE]
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Off Topic Discussion
OT: Richest 2% own more than half the world
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