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Topic: Fiat currency

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Fiat money

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	Fiat currency - Wikipedia, the free encyclopedia
		Nations whose currency is devalued or under attack (See financial crisis, capital flight, hyperinflation) are often encouraged or required to link their currency to an external currency or basket of currencies.
		Fiat money is also closely tied to government borrowing for expenditures that do not have a clear social return, or which may have negative expectations, such as wars of conquest.
		Fiat money is also associated with attempts to control trade, if individuals possess notes which are not redeemable outside of the control of a government, the idea is that they will have to purchase preferentially within the boundaries of the nation, rather than importing.
	en.wikipedia.org /wiki/Fiat_money (3567 words)

	Fiat money (Site not responding. Last check: 2007-11-06)
		Fiat money or fiat currency (usually paper money) is a type of currency whose only value is that a government made a fiat (i.e.
		Fiat money, by definition, does not have any intrinsic value, nor is it backed by anything other than the confidence holders have in the economy which is covered by the government which decrees it to have value.
		What exactly is a "fiat" currency is a matter of some debate, with a spectrum of opinion that runs from hard money advocates which declare than anything other than a one to one currency basis is "fiat money", to a range of economic theories which hold that market dynamics enforce fiscal discipline.
	www.sciencedaily.com /encyclopedia/fiat_money (2169 words)

	Fiat money : Fiat currency (Site not responding. Last check: 2007-11-06)
		Fiat money or Fiat currency (usually paper money) is a type of currency whose only value is that a government made a fiat (i.
		Although paper fiat money was associated with China through the writings of Marco Polo, Chinese dynasties resorted to fiat money only in extremely desperate situations, and Chinese experiences with fiat money were that it tended to result in hyperinflation.
		In the situations where fiat money was used, it was difficult for governments to avoid the temptation of printing money which generally led to high inflation.
	www.termsdefined.net /fi/fiat-currency.html (566 words)

	Fiat Paper Money by Rep. Ron Paul
		Fiat money polices especially hurt savers and those on fixed incomes, who find the value of their dollars steadily eroded by the Fed's printing presses.
		One explanation is that a fiat monetary system allows power and influence to fall into the hands of those who control the creation of new money, and to those who get to use the money or credit early in its circulation.
		Fiat dollars allow us to live beyond our means, but only for so long.
	www.lewrockwell.com /paul/paul125.html (574 words)

	GoldMoney (Site not responding. Last check: 2007-11-06)
		As they are a commodity currency, they have the added value of their use as a tangible commodity; this is in addition to their usefulness as money.
		Conversely, fiat currencies are not an, and cannot be, an objective measure of value because they differ in value depending on the quality of the obligations (i.e., loans and other assets) that back the currency.
		A risk is assumed until the fiat currency is exchanged for a tangible good or service; at this point the risk is passed on to the individual or institution receiving the fiat currency.
	goldmoney.com /en/strengths.html (2059 words)

	All About Money - Print Version
		For a short while, during the American Revolution, politicians decreed that any who would not accept the fiat currency of the day (called continentals) as payment for goods and services be treated as enemies of the country and precluded from all trade or intercourse.
		The generation of fiat money, which is produced without work—how much more work is involved in producing a $100 bill as opposed to a $1 dollar bill?—dilutes that which has been saved and that which has been promised for future payment.
		This is because fiat currencies cause higher interest rates and a shorter investment-time-horizon, causing a decrease in manufacturing activity.
	www.gold-eagle.com /editorials_01/parks021701pv.html (2384 words)

	Transaction Net: How Currency Systems Work (a Money Map)
		Fiat money requires by definition an Authority (a Central Bank, in the case of national currencies) to be issued and to keep its value.
		Sufficient currencies (not to be confused with overabundant inflated currencies) are exemplified by mutual credit systems such as LETS and Time Dollars, which are created as a debit and credit by the participants themselves at the moment of a transaction and thus always in sufficient supply.
		Currencies that store value (such as any commodity-backed currency, including electronic forms of it such as E-gold) encourage hoarding, and therefore competition.
	www.transaction.net /money (415 words)

	NESARA-Frequently Asked Questions about Money and Currency
		However, because the quantity of paper currency in circulation is not regulated, and due to flawed mechanisms that allow Congress to inflate the quantity of currency in circulation, the exchange value of that paper currency dwindles over time.
		Currency represents purchasing power, whereby the possessor of the currency previously exchanged some form of his or her own property or wealth, typically labor, for those claim checks on other goods or services.
		The difference between an IOU in the previous example and currency is that an IOU is a token symbol of debt with respect to individuals; currency is a token symbol of debt with respect to an entire society.
	www.nesara.com /articles/faq_money_and_currency.htm (4381 words)

	Bank notes of North Yemen and unified Yemen
		The next step in the development of the republican currency was the introduction of Law No.6 on 3 February 1964 whereby the Yemen Currency Board was established and provision was made for the issuing of bank notes.
		The Yemen Currency Board was administered by a board of six directors, consisting of the Minister of the Treasury who was also the chairman, a vice-chairman, the general manager of the Currency Board -responsible for the day-to-day administration - and three directors appointed by the President of the Republic.
		The capital of the Currency Board was fixed at two million rials, half of which was paid by the Yemeni government at the inception of the Board, with the other half due to be paid within a year.
	www.al-bab.com /yemen/soc/banknotes.htm (1705 words)

	Gold and Fiat Currencies - The Confidence Game
		Today we are told that gold and silver as a monetary value is obsolete, and that fiat currency can perform the same function and have the same safety as a gold/silver backed currency.
		Fiat currency is simply the printing of a currency out of thin air with no intrinsic value.
		The "con"fidence is that the country's currency is "valuable" because of the country's economic and military strength.
	www.rense.com /general23/gold.htm (1616 words)

	Kitco - Exclusive Commentaries
		And what we have to do to successfully survive this system wide risk is step outside of the fiat currency system that is in deep dodo.
		The only way to step outside of the currency system is to exchange the currency that is in trouble, namely dollars and other fiat money for gold which retains value no matter if banks can return deposits to their subscribers or not.
		But given the absence of gold as a discipline against the rampant creation of fiat money from thin air, we are beginning to see what economic hell awaits a world awash in paper that has been irresponsibly manufactured from endless amounts of debt.
	www.kitco.com /ind/Taylor/oct182002.html (2836 words)

	Transaction Net: Complementary Community Currency Systems
		When a full spectrum of currencies are available, people will complete more transactions, enabling more people to meet their needs and create trading relationships.
		Backed currencies such as e-gold can be issued (or barter exchanges completed) by whoever owns a commodity or service.
		Those complementary currencies backed by an external reference (a commodity or service) rather than the fiat of a central authority are less susceptible to inflation.
	www.transaction.net /money/community (855 words)

	All Work and No Pay: a lesson on gold and money
		Currency, or so-called "paper money" was, of course, never the money itself, but only a claim check for money on deposit with the issuer of the paper.
		When counterfeit currency was presented at the bank for redemption this sad fact became known to the holder of the counterfeit, who then realized that he had given goods and services for a worthless promise.
		Currency printed in the Bureau of Engraving and Printing is "good;" that printed in your basement is "bad." Neither the "good" bill nor the "bad" one entitles its holder to a specified amount of anything.
	www.usagold.com /AllWorkandNoPay.html (21368 words)

	MONETARY SYSTEMS
		Fiat money is paper or tokens made legal tender by fiat rather than by convertibility into commodity-money.) Separation of money from commodity value by governments opened the door for the inflationary practices of governments and their counterfeiting competitors.
		All other currencies were to have fixed exchange rates against the Dollar within a 1% range, supported by loans from the IMF.
		Panama and Liberia have used dollars as the official currency for many years, and Ecuador was forced to substitute dollars for its own currency, the sucre, in early year 2000.
	www.benbest.com /polecon/monetary.html (11396 words)

	Money
		One argument for this thesis is that the fiat money systems that have worked best historically, are the ones where the physical backing was removed slowly and secretly.
		Although a fiat monetary system often evolves out of a fractional reserve system, this is not always the case.
		It is important to understand that in a fiat monetary system, the value of money is based on confidence, and once that confidence is gone, money irreversibly becomes worthless, regardless of its scarcity.
	www.economymodels.com /money.asp (1548 words)

	Fiat money - China-related Topics FI-FL - China-Related Topics
		What exactly is a "fiat" currency is a matter of some debate, with a spectrum of opinion that runs from hard money advocates which declare that anything other than a one to one currency basis is "fiat money", to a range of economic theories which hold that market dynamics enforce fiscal discipline.
		The two temptations andmdash; to create inflationary currencies and to allow reserves to drop from one-to-one to the expected rate of redemption of gold andmdash; repeatedly hobbled economic stability.
		This argument, however, is quite unconvincing to classical economists, who reply in turn that isolated economies are practicing not only fiat banking, but also protectionism andmdash; practices which protect incompetent local competitors from competent global competitors.
	www.famouschinese.com /virtual/Fiat_money (2287 words)

	fascinating development - trading virtual goods for fiat currency \| economics news at abelard.org
		Now comes the trading of virtual booty for position in unreal worlds, which booty is then traded for government fiat currencies which may be used to purchase designer clothing or impractical status cars.
		Companies are set up to facilitate trade between virtual currencies and government virtual (fiat) currencies.
		As societies run out of real work, because automation requires ever-diminishing human work to produce useful and useless real world items, so humans with time on their hands seek other means of display to establish status, and thereby gain real-world returns.
	www.abelard.org /news/economics04.php (225 words)

	Safe Haven \| End Game Dynamics
		And unlike 'fiat currency', gold is a store of wealth given it has survived every politically oriented attempt to discredit its value on a lasting basis throughout the ages.
		The US Dollar (USD) is no different than any other fiat currency in that even though it has been well promoted in the global economy due to American ingenuity, it too will eventually fail.
		Thus, it appears it's not only an accelerating currency debasement agenda led by the Federal Reserve (Fed) that will be required to send gold parabolic, but a materially increased perceptual risk of US insolvency, as well.
	www.safehaven.com /article-2643.htm (1741 words)

	The SDR - Currency chart and Ponzi Index page by RossL
		Thus, the chart removes the bias imposed by the floating valuation of the US dollar vs. other fiat moneys.
		It has lived on throughout the centuries, embraced by kings and presidents, politicians and businessmen.
		It has shattered numerous currencies, inflicted incalculable harm, and caused social and political upheavals.
	home.columbus.rr.com /rossl/gold.htm (786 words)

	Lies, Damn Lies, and CPI (Site not responding. Last check: 2007-11-06)
		Without paper to inflate, currencies were debased by shaving coins (lowering the weight), mixing precious metals with base metals (base metals aren’t rare), and forcing the populace to accept these coins by regulatory fiat.
		In modern times, debasing a currency has become much easier for a government to execute and much more difficult for a population to detect until it is too late.
		With the introduction of true fiat currencies, the last 300 years has probably seen more instances of high inflation and hyperinflation than all the rest of human history combined.
	www.zealllc.com /commentary/damnlies.htm (2965 words)

	Frequently Asked Qusetions (Site not responding. Last check: 2007-11-06)
		Please note that we have to keep our various digital currency accounts in balance and may be able to do a CASHOUT for one or the other digital currencies if we have need of it.
		When we can do cashouts from currencies other than egold, the charge will be 2.5% of the amount transferred, with a $5 minimum.
		Also, if we're able to convert from a currency other than egold, the fee will be 2.5% with a $5 minimum.
	www.gitgold.com /quest.htm (1919 words)

	Libertarians and the gold standard
		The current system where the U.S. dollar is the world reserve currency benefits the United States, because we magically create new dollars, without any messy mining, and give it to the world in exchange for useful goods such as raw materials, automobiles, and most of the stuff you see on the shelves at Walmart.
		Unlike the U.S. dollar, fiat currencies printed in countries such as Iran or Syria are obviously not trusted.
		So for Islamic nations with dubious governments, the use of a standard currency which is relatively stable and not under the control of any of their governments would undoubtedly increase economic activity in the region.
	www.calicocat.com /2004/06/libertarians-and-gold-standard.html (1338 words)

	* Fiat currency - (Numismatic): Definition (Site not responding. Last check: 2007-11-06)
		fiat currency Coins and paper money that do not have metal value or are not backed up by metal value.
		Note that this article has no references to the Italian car manufacturers.
		United States Notes were fiat currency, in that they were never redeemable explicitly for any precious metal...
	www.mimihu.com /numismatic/fiat_currency.html (158 words)

	The New American - Money and Debt - August 26, 2002 (Site not responding. Last check: 2007-11-06)
		Because the U.S. dollar is fiat currency, there is no limit to how much can be pumped into the economy via the banking system.
		Currency con: Article 1, Section 8 of the U.S. Constitution authorizes Congress "to coin money, [and] regulate the value thereof…." This statement refers to "Commodity Money," such as gold or silver.
		The banking cartel then subtly introduced "Fractional Money" — currency issued in excess of the amount of gold in reserve, and redeemable only to a fraction of its face value.
	www.thenewamerican.com /tna/2002/08-26-2002/vo18no17_money.htm (312 words)

	ratitor's corner: march equinox 1999, "Expanding the Song of Life"
		This currency uses "the hour of service as unit of account and thus may be measured the same independently of place and circumstances." Their web site offers a marvelous array of resources and information including the Hometown Money Book and Starter Kit.
		A common currency exclusive to the members of one city or geographic region is one means of moving towards these goals.
		The alternative currency (typically issued by a small city or region) had many times the rapidity of circulation of the official currency, and the anticipated employment and environmental benefits were actualized.
	www.ratical.org /ratitorsCorner/03.20.99.html (15710 words)

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