Define "Dollar"

[Guest]

There are several threads concerning the dollar, fiat currency, gold/silver, trade deficit, national debt, inflation, investments, etc. Let's define "dollar" so we are all talking about the same thing.

 I would especially like to hear definitions from fans of the current system.

[The Rabbi]

Dollar: the basic unit of currency in the U.S.

[Nick1911]

Quite literally, a "dollar" in common useage defines one US dollar bill. 

The question that's interesting involves the value of that said dollar.

[Felonious Monk/Fignozzle]

thaler, anglicized.

[zahc]

One who makes dolls.

[Art Eatman]

I tend to ignore arguments based on the Constitution about dollars and coining money and all that.  Not that they're necessarily wrong, but it's all irrelevant to today's world.

I use the term as, the dollar is the medium of exchange in the US.  It functions as do the Euro and Yen and all the other currencies.

, Art

[richyoung]

There are several threads concerning the dollar, fiat currency, gold/silver, trade deficit, national debt, inflation, investments, etc. Let's define "dollar" so we are all talking about the same thing.

 I would especially like to hear definitions from fans of the current system.

The Constitution mentions the term "dollar" inseveral places - when it sets the amount to be in dispute to guranatee a jury trial, for one.  Since no "U.S." dollar existed yet, it had to be a piece of currency that was then in common usage in what would become the United States.  The most common "dollar" in use at the time was the Spanish Peso, worth eight Spanish reals, hence the term "piece of eight".  Since the good King of Spain wasn't above debasing his own currency, the United States fixed the "dollar" as being equal to 412.5 grains (26.73 g) of 90% silver.  Of course, we have gotten far, far away from that, with predictable bad results.

[The Rabbi]

The Constitution mentions the term "dollar" inseveral places - when it sets the amount to be in dispute to guranatee a jury trial, for one.  Since no "U.S." dollar existed yet, it had to be a piece of currency that was then in common usage in what would become the United States.  The most common "dollar" in use at the time was the Spanish Peso, worth eight Spanish reals, hence the term "piece of eight".  Since the good King of Spain wasn't above debasing his own currency, the United States fixed the "dollar" as being equal to 412.5 grains (26.73 g) of 90% silver.  Of course, we have gotten far, far away from that, with predictable bad results.

Yeah. Strongest economy in the world, 5% unemployment, highest standard of living.  We're in deep deep trouble. 

[charby]

Something I have to work hard to get, then only to be disapointed what the fruits of my labor hast given me.

[richyoung]

The Constitution mentions the term "dollar" inseveral places - when it sets the amount to be in dispute to guranatee a jury trial, for one.  Since no "U.S." dollar existed yet, it had to be a piece of currency that was then in common usage in what would become the United States.  The most common "dollar" in use at the time was the Spanish Peso, worth eight Spanish reals, hence the term "piece of eight".  Since the good King of Spain wasn't above debasing his own currency, the United States fixed the "dollar" as being equal to 412.5 grains (26.73 g) of 90% silver.  Of course, we have gotten far, far away from that, with predictable bad results.

Yeah. Strongest economy in the world, 5% unemployment, highest standard of living.  We're in deep deep trouble. 

Yeah, we're doing great...so long as China and japan continue to service our debt.  Meanwhile, it's interesting to note that a genuine silver dime from 1964 and before is now worth...about a dollar.  Meanwhile, the dolar continues its slow fade against the Euro...

[The Rabbi]

I forgot, in the Richyoung world, strength equals weakness and wealth equals poverty.
Actually 53% of all U.S. public debt is domestically owned.  Yes, China and Japan account for the largest foreign holdings.  But it is a market and they chose to buy those securities for a reason.

[tyme]

http://en.wikipedia.org/wiki/Num%C3%A9raire

[erik the bold]

Yeah. Strongest economy in the world, 5% unemployment, highest standard of living.  We're in deep deep trouble. 

Unless you happen to live in Michigan......    8-10% unemployment, piece-o-crap demonrat govenor, even our largest bank, Comerica (namesake for the Detroit Tigers newish stadium) is leaving for Texas.

Somebody don't forget to turn off the lights.

Sorry for the thread hijack.....Back to your normal conversations.....

[Guest]

Yeah. Strongest economy in the world, 5% unemployment, highest standard of living.  We're in deep deep trouble. 

Unless you happen to live in Michigan......    8-10% unemployment, piece-o-crap demonrat govenor, even our largest bank, Comerica (namesake for the Detroit Tigers newish stadium) is leaving for Texas.

Somebody don't forget to turn off the lights.

Sorry for the thread hijack.....Back to your normal conversations.....

 A dose of reality is always welcomed. 

[Matthew Carberry]

Change the leadership and situation in Michigan or just move.

Problem solved.

[Perd Hapley]

Wrong, carebear.  Just plain wrong.  The only way to fix that is to go back to specie, like they use in Texas.   

[Gewehr98]

Change the leadership and situation in Michigan or just move.

The latter's easier than the former, as I discovered in the PRK in 1999.  I did a partial-DITY move, and in that weight allowance was 300 each 30-round AK-47 mags, a request by an FFL near Sacramento because he wouldn't be able to leave the state before SB-23 went into effect.  Between his Kali-banned items and mine, that Wells Cargo trailer sat mighty low... 

[The Rabbi]

Change the leadership and situation in Michigan or just move.

Problem solved.

Actually I suspect just bombing Detroit would have a salutary effect on the economy and political situation there.

[crt360]

Wrong, carebear.  Just plain wrong.  The only way to fix that is to go back to specie, like they use in Texas.   

As was evidenced by a dispute I got a call on today, some people here in Texas still accept payment in livestock.  I've yet to be offered chickens for legal work, but some of the older folks have assured me it wasn't uncommon back in the day.

[RevDisk]

There are several threads concerning the dollar, fiat currency, gold/silver, trade deficit, national debt, inflation, investments, etc. Let's define "dollar" so we are all talking about the same thing.

 I would especially like to hear definitions from fans of the current system.

A "Federal Reserve Note", current standard currency of the United States.

[Matthew Carberry]

Doller?

It takes fifty of them for some girls to make you holler, because they get paid to do the wild thing.

[CAnnoneer]

a dollar - a unit of collective illusion

[Guest]

So far, we have "unit", "bill", "note", "thaler", "medium" and "numeraire" (and some clever jokes). 

 I got the idea for this thread from this article:

 A fairy tale world

By Hugo Salinas Price

 "Money must, sine qua non, function not only as a means of exchange, but also as a means of payment.
 The world, as of February 2007, does not possess a means of payment. In economic terms, payment is the exchange of something for something.".......
 
 ......"Money, properly speaking, must be definable! The dollar cannot be defined: so said Alan Greenspan himself, the Pope of Central Bankers, in reference to the dollar, which is the reserve currency of the world and which backs all other currencies. When something is not definable, it has no physical existence. A thing that has no physical existence is imaginary. An imaginary thing such as money is today, is as different from real, actual money, as an imaginary loaf of bread is different from a loaf of bread in ones hand."

[Waitone]

The only specie acceptable to the IRS for payment of taxes.

[cosine]

Dollar - something I don't have enough of.