Re: The Citizens' Guide to Money

On Jan 6, 6:24 pm, monetaryscie...@xxxxxxxxx wrote:
On Jan 6, 8:15 pm, monetaryscie...@xxxxxxxxx wrote:
A relatively short and somewhat opinionated guide to Monetary Science,


Please be patient with me. I just started reading your treatise. I
just hesitated over the following:

"This system is called a "fiat" currency, because the notes have value
only by the government decree that they accepted as currency. "

I think major "fiat" currencies are backed by much more than
government decree. For example, US currency is backed by "The full
faith and credit of the U.S." A great deal goes in to how good the
U.S. faith and U.S..credit are. (Such as reliabilty, stability, and
the rule of law and order, and trust). I hope this is not a sign that
you are biased against fiat currency. I will continue reading as time
permits.
.

Relevant Pages

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  • Re: Amero Hint?
    ... Would you, or could you, explain in a few words exactly what a fiat ... A fiat currency is one that's backed by nothing but faith ("the full ... The value of gold is inherent, so no law was required to get people to ... irrationality is quite a common human trait. ...
    (rec.crafts.metalworking)
  • Re: Amero Hint?
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