Well they've passed it now, but is that going to help. ] As I understand things, the US, UK and some other nations have been trading in currency that is not backed by gold (there is a proper ecconomist's name for this, but I'm buggered if I can remember it, all I can get from my brain when I search it is "conmen"). This is bad enough, but the $700,000,000,000 or whatever is basically going to all be unbacked, and therefore all this is going to so is increase the money supplt without any value to back it up. Not only can this cause wild and uncontrolled inflation, but considering the current situation, and the amount of cash involved, it's potentially terrible in another way. The 1929 crash was basically caused by trading stocks in companies that held nothing like the value of those stocks.......like selling 3,000,000 shares in the corner shop for $20 each.......when the bubble burst, and people realised that most stocks were worthless, down came the stock markets. We're now potentially looking at the same situation, but with 700,000,000,000 bucks worth of junk stock in a NATION, that's not worth that value.
Not a time for saving money, spend spend spend......before the currency devalues 90%!
