Comments on: Fiat Currency

By: Maru

Maru — Wed, 01 Feb 2012 15:51:17 +0000

Of all the reasons given above for our worldwide economic troubles, no one has named the real reason: Sin.

Sin has universal natural consequences; every economic collapse,evil,deprivation, war,plague, pollution, ETC. is a result of saying to God: I will not serve you, nor honor you, nor follow your laws. It’s not God’s punishment; it is natural consequences.

By: The Forex Club. Members Only community for trading Currency with friends, discussing currency related issues and sharing advice and resources. At The Forex Club you can access Ebooks, Training Courses, Trading Robots, Forex Courses, Videos, Software, and

Thu, 12 Jan 2012 19:27:06 +0000

The Forex Club. Members Only community for trading Currency with friends, discussing currency related issues and sharing advice and resources. At The Forex Club you can access Ebooks, Training Courses, Trading Robots, Forex Courses, Videos, Software,…

[...]Fiat Currency[...]…

By: An American Memory « Watching The World ~ In Search Of The Hundredth Monkey

An American Memory « Watching The World ~ In Search Of The Hundredth Monkey — Tue, 10 Jan 2012 11:54:52 +0000

[...] can we forget that the fiat dollar must eventually be worthless. It’s even talked about by the bible people at bibleinvestments.com – [...]

By: Episode 5: Banks, Currencies and Taxes Part 2 - Solutions | State of Jefferson Podcast

Sat, 07 Jan 2012 06:22:05 +0000

[...] http://dailyreckoning.com/fiat-currency/ (History of fiat currencies) [...]

By: 9 Fiat Money Sites

9 Fiat Money Sites — Sat, 24 Dec 2011 08:29:11 +0000

[...] Fiat CurrencyFiat currency has a long history of failure, as seen with the Roman denarius and the Chinese fiat currencies, among [...]

By: 6 Money Failed Sites

6 Money Failed Sites — Wed, 21 Dec 2011 19:10:50 +0000

[...] Fiat CurrencyFiat currency has a long history of failure, as seen with the Roman denarius and the Chinese fiat currencies, among [...]

By: Hayward Cole

Hayward Cole — Wed, 21 Dec 2011 02:45:42 +0000

Real History!

By: Chris1182

Chris1182 — Wed, 21 Dec 2011 02:03:59 +0000

I suppose the question for me is why does money have to be backed by any commodity at all? How does backing money with gold or silver make it better? The flaw with commodity based money the quantity cannot be controlled beneficially and that it distorts the value of the commodity.

If we suddenly switched back to gold as the basis of our money, then the quantity is limited by how much gold exists. This would stifle growth and overall prosperity for all but those who have been hording gold. If we made up for the obscure quantity by continuing to allow fractional reserve banking we would still see all of the problems we experience today.

I point again to tally sticks, the most successful monetary system in modern history, a fiat currency that only ended because of intense lobbying from the Bank of England. Legal tender laws are what make money work, not what the money is based on. If governments simply create the money they need to run their nations and support their citizens, rather than banks, we would be in a situation where no one stands to profit from the money making process. Elected officials can be held accountable for creating too much or too little money -causing inflation or deflation- and the people know who not to vote for in the future. Money is a human construct, like any measurement of time, size or distance. It doesn’t matter what it is based on as long as the quantity is controlled proportionately to economic growth.

By: Renegade

Renegade — Tue, 20 Dec 2011 14:46:34 +0000

I hear many people talking about food and other commodities becoming more valuable than gold or silver and that may be the case for a short while if chaos ensues… who knows? but the fact will remain that the world will need a currency that is measurable against it’s overall global supply and the only valuable materials of an unlimited nature that have the history and the capacity to fit the bill is Gold and Silver, it has done so for over 5000 years. Agreed that it would be unrealistic to circulate gold and silver coins as currency but eqaully we can’t simply go back to tribal and primative bartering for good’s, the world has become too advanced in a number of ways but each countries respective governments have shown that if each and every issued note isn’t accountable then we will see this scenario replay over and over again. There are however very real concerns about Water and oil too…

By: Finance and Investing click here

Finance and Investing click here — Tue, 20 Dec 2011 01:52:15 +0000

Finance and Investing click here…

[...]Fiat Currency[...]…