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Fiat currency

Name: Anonymous 2008-04-29 20:34

Is there anybody who really thinks fiat currency is a great idea? From what I can tell, some people say that fiat currency is the worst thing that ever happened to America, while others just think that the system we have now works and we shouldn't change it. I can't find anyone strongly arguing for it.

Name: RedCream 2008-04-29 21:46

Fiat currency can be inflated to fuck by the elite banking establishments once they gain too much power over economic participants.  That means America, today.  Hyperinflation is a distinct danger now.

Properly regulated by sane people, fiat currency is a true blessing for the creation and management of huge amounts of wealth.  Alas, that's not what's going on in America today.  Today, we have a financial industry that is using its singular control over the currency to accumulate monstrous amounts of artificially-created wealth.  They didn't do the necessary and productive work to create that wealth.  Eventually this crime becomes felt in the entire economy and hyperinflation results.

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