All that demand for printing currency as well. At least our dollar is printed with cotton so our currency is not technically a fiat currency since it is based on cotton.
A 1 dollar bill (actually any bill) weighs almost 1 gram. A bill is 75% cotton. Therefore $605 dollars in 1 dollar bills is worth 1 dollar (or 1 pound) of cotton. If the government wanted to pay off the 13 trillion dollar deficit with $100 bills, they would have to spend over 214 million dollars to buy cotton to print it.
didn't you hear? jim rogers is simultaneously long everything at the bottom and short everything at the top. the man's a genius, what can you say. and yet he manages to keep his folksy, aww shucks attitude somehow...
a few months ago rogers called the euro a buy at 1.21 and it went over 1.33. usually his recommendations take time to work out. what is humorous is the insults he receives on this board.