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View Diary: NYT: Cypriots Are Ready To Remove All their Money (84 comments)

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  •  Yes, it's all built on trust (1+ / 0-)
    Recommended by:
    Cassandra Waites

    That's why when people say that the Social Security surplus is just a bunch of IOUs in the form of T-Bills, I tell them that if those T-bills become worthless, all the dollars will become worthless and we have a much bigger problem than Social Security.

    Women create the entire labor force. ---------------------------------------------------------------------------------------- Sympathy is the strongest instinct in human nature. - Charles Darwin

    by splashy on Tue Mar 26, 2013 at 03:20:32 AM PDT

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    •  Dollars are IOUs. IOUs, like rights, are worthless (1+ / 0-)
      Recommended by:
      semiot

      unless they are respected by people. Other creatures don't respect our rights -- can't respect because they don't have the understanding. Same thing with written communications. That's how writing and currency are similar. Both are symbolic representations of human intent -- ideas.

      It's quite possible that some humans can't make that symbolic connection or the distinction between an idea and the real thing.

      We organize governments to deliver services and prevent abuse.

      by hannah on Tue Mar 26, 2013 at 03:59:56 AM PDT

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      •  The name is not the thing named; the map is not (0+ / 0-)

        the territory.

        Courage is contagious. - Daniel Ellsberg

        by semiot on Tue Mar 26, 2013 at 07:27:00 AM PDT

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        •  "This is not a pipe" n/t (0+ / 0-)

          Women create the entire labor force. ---------------------------------------------------------------------------------------- Sympathy is the strongest instinct in human nature. - Charles Darwin

          by splashy on Tue Apr 02, 2013 at 03:55:35 AM PDT

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