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<p>[QUOTE="KBBPLL, post: 25748546, member: 104064"]I get so bored with seeing people complain about "fiat money." An excerpt of the definition: "It has value only because the individuals who use it as a unit of account – or, in the case of currency, a medium of exchange – agree on its value." Gold is fiat money. You can't eat it, drink it, or shelter in it. Other than jewelry, it's pretty much useless. It has value because we say it does.[/QUOTE]</p><p><br /></p>
[QUOTE="KBBPLL, post: 25748546, member: 104064"]I get so bored with seeing people complain about "fiat money." An excerpt of the definition: "It has value only because the individuals who use it as a unit of account – or, in the case of currency, a medium of exchange – agree on its value." Gold is fiat money. You can't eat it, drink it, or shelter in it. Other than jewelry, it's pretty much useless. It has value because we say it does.[/QUOTE]
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