Fiat Currency History --- The Real Cause of Collapse For All Fiat Currencies
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FIAT CURRENCY According To Wikipedia, Fiat money has been defined variously as: ● any money declared by a government to be legal tender ● state-issued money which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard ● money without intrinsic value (such as paper) The term derives from the Latin fiat ("let it be done", "it shall be") http://en.wikipedia.org/wiki/Fiat_money
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According To Wikipedia, Fiat money has been defined variously as: any money declared by a government to be legal tender state-issued money which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard money without intrinsic value The term derives from the Latin fiat ("let it be done", "it shall be") http://en.wikipedia.org/wiki/Fiat_money Ron Paul has famously repeated his opinion that every "fiat" currency in history has failed. What Dr. Paul conveniently ignores is the fact that, in every case where this is true, said "fiat" currencies were subject to interest. According to Mike Montagne, the founder of PEOPLE For Mathematically Perfected Economy™, "The destructive issue we know then, because the idea that a form of money can injure us *because it is paper* is itself laughable. Every fiat currency in history (so far) failed not because it was paper, but because the tokens of wealth were subject to interest."
Transcript of Fiat Currency History --- The Real Cause of Collapse For All Fiat Currencies
FIAT CURRENCYAccording To Wikipedia,
Fiat money has been defined variously as:● any money declared by a government to be legal tender
● state-issued money which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard
● money without intrinsic value (such as paper)
The term derives from the Latin fiat
("let it be done", "it shall be")
http://en.wikipedia.org/wiki/Fiat_money
RON PAUL
Ron Paul has famously repeated his opinion that every "fiat" currency in history has failed.
RON PAUL
What Dr. Paul conveniently ignores is the fact that, in every case where this is true, said "fiat" currencies were subject to interest.
Mike Montagne
According to Mike Montagne, the founder of PEOPLE For Mathematically Perfected Economy™...
Mike Montagne
"The destructive issue we know then, because the idea that a form of money can injure us *because it is paper* is itself
laughable...
Mike Montagne
...Every fiat currency in history (so far) failed not because it was paper, but because the tokens of wealth were subject to
interest."
Mike Montagne
http://www.perfecteconomy.com/pg-mpe-102-fiat-currency.html
PEOPLE For Mathematically Perfected Economy™Ask Questions at the
PEOPLE For Mathematically Perfected Economy™ Facebook page:
