Sunday, October 16, 2005

A Modern Dilema - Fiat Money

I would suggest reading all these recent posts, about fiat money and the currency problem. The knowledge is here - we need to circle the wagons, and truly solve our serious problems - quickly!

"The Great Dollar Standard Era is a direct result of the removal of gold as the underpinning of the world's currencies. The vast overprinting of currency will inevitably debase the value of the U.S. dollar and, because so many foreign currencies are pegged to the dollar, the currency of those nations as well. Fiat money, simply put, is created out of nothing. A future promise to pay has never supported monetary value for long and the United States is so overextended today that it is doubtful it could ever honor its overall real debts." ...

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