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Old 11-06-2009, 12:10 AM
aljhoa aljhoa is offline
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Join Date: Aug 2007
Posts: 2,263
What Is Up With Fiat Money?

"The fiat dollar standard is probably the most intractable problem in the U.S. and the world, simply because there is no debate going on about the pros and cons of its alternatives. It may take a crisis or hyperinflation to prompt Americans to realize the virtues of commodity money. Fortunately, no matter how exalted and surrounded in mystery the Federal Reserve is, it is always in danger, for if only the public knew how cleverly they are swindled of their savings through inflation and how much wealth they lose due to economic inefficiencies, they would not permit it to continue. "

What Is Up With Fiat Money? by Dmitry Chernikov
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