Difference between revisions of "Fiat currency"
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'''Fiat currency''' is [[currency]] that is founded merely on [[government]] decree and cannot be converted to an asset such as [[gold]] and [[silver]]<ref>http://www.halexandria.org/dward297.htm</ref>. It is any currency that is issued at will (usually by a government) without [[precious metal]]s backing its value. (From the Latin "Let it be done.") | '''Fiat currency''' is [[currency]] that is founded merely on [[government]] decree and cannot be converted to an asset such as [[gold]] and [[silver]]<ref>http://www.halexandria.org/dward297.htm</ref>. It is any currency that is issued at will (usually by a government) without [[precious metal]]s backing its value. (From the Latin "Let it be done.") | ||
| + | Most currencies currently in existence are fiat, including the [[Euro]] and the [[Dollar]], although the latter was originally based on precious [[metal]]s. | ||
==Quotes== | ==Quotes== | ||
Revision as of 23:47, March 16, 2016
Fiat currency is currency that is founded merely on government decree and cannot be converted to an asset such as gold and silver[1]. It is any currency that is issued at will (usually by a government) without precious metals backing its value. (From the Latin "Let it be done.")
Most currencies currently in existence are fiat, including the Euro and the Dollar, although the latter was originally based on precious metals.
Quotes
- "The one aim of these Banksters is world control by the creation of inextinguishable debt." - Henry Ford
- "Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants and debt is the money of slaves." -- Traditional
- "Of all the problems with fiat currency, the most basic is that it empowers the dark side of human nature. We’re potentially good but infinitely corruptible, and giving an unlimited monetary printing press to a government or group of banks is guaranteed to produce a dystopia of ever-greater debt and more centralized control, until the only remaining choice is between deflationary collapse or runaway inflation. The people in charge at that point are in a box with no painless exit."[2]
External Links
References
- ↑ http://www.halexandria.org/dward297.htm
- ↑ "World in a Box" by John Rubino, http://www.24hgold.com/english/news-gold-silver-world-in-a-box.aspx?article=6093328534H11690&redirect=false&contributor=John+Rubino Published December 8, 2014, Accessed December 27, 2014
