Fiat Currency History --- The Real Cause of Collapse For All Fiat Currencies
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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
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RON PAUL
Ron Paul has famously repeated his opinion that every "fiat" currency in history has failed.
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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.
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Mike Montagne
According to Mike Montagne, the founder of PEOPLE For Mathematically Perfected Economy™...
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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...
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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."
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Mike Montagne
http://www.perfecteconomy.com/pg-mpe-102-fiat-currency.html
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