Quote of the day

From Adam Kupi at A Pox On All Their Houses:

The economic fact of the matter as I see it is, if nothing is backing the dollar, then that means that everything is backing the dollar.In other words, all the goods and services that can be bought with dollars are "backing" the dollar. Think about it. When you take a $20 out of the ATM, you do so because you expect that you can buy something with that. And you have a pretty good idea of what that something will cost. That's the only reason why you want that bill. This adds a little more weight to the metaphor of wage slavery as well. Because our labor is being farmed by the banking system, in an indirect way. We're holding up the dollars that they are printing for themselves with our labor. In a real sense, we're backing up their debt with our labor.
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Written on Monday, January 30, 2006