Re: What is fiat money?


"William F Hummel" <wfhummel@xxxxxxxxxxx> wrote in message
news:9c2rr1tsvjrff3ltku79k9tlhacbtaib10@xxxxxxxxxx
> "Fiat money is similar to representative money except it cannot be
> redeemed for a commodity, such as gold or silver. The Federal Reserve
> notes we use today are an example of fiat money."

The hell I say.

I went down to the coin store two weeks ago and "redeemed",
with a hell of a lot of "fiat" dollars, 8 one-half-ounce commodity
gold coins as Christmas gifts for the neices/nefews.

Sure, Uncle Sugar won't "redeem" it for me, but I can sure
as hell "redeem" for any damned commodity I want/need
and any friggin time I want/need to.


.

Relevant Pages

  • Re: What is fiat money?
    ... redeemed for a commodity, ... The Federal Reserve notes we use today are an example of fiat money." ... with a hell of a lot of "fiat" dollars, ... as hell "redeem" for any damned commodity I want/need ...
    (sci.econ)
  • Re: OT. On our way to total economic collapse.
    ... You could take it and redeem it for silver. ... changing bills for coin isn't redeeming. ... We were off the gold standard during the depression. ...
    (rec.gambling.poker)
  • Re: OT. On our way to total economic collapse.
    ... I am not preparing for ... nations history those with the gold and silver made out ok. ... You could take it and redeem it for silver. ... We were off the gold standard during the depression. ...
    (rec.gambling.poker)
  • Re: Beldin is pwned!
    ... For almost all of recorded history gold had no value; ... silver had an effective PRICE. ... in order to redeem it you went to the Treasury to ... This was in keeping with the 1800's era practice of Bank notes, ...
    (rec.gambling.poker)
  • Re: OT. On our way to total economic collapse.
    ... So did those with dollar bills. ... You could take it and redeem it for silver. ... We were off the gold standard during the depression. ...
    (rec.gambling.poker)
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