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<p>[QUOTE=&quot;jolumoga, post: 1840155, member: 41780&quot;]As far as I know, that still doesn&#039;t qualify a currency as a fiat currency.&nbsp; Theoretically, though the prices of metals could fluctuate and differ from nominal values in coins with their content, the currency in previous times was backed by and redeemable in gold.&nbsp; Though currencies could fluctuate in value somewhat, they were anchored, I believe, to the amount of gold supposedly held by the nation.&nbsp; It seems demand for the physical (&quot;phyzz&quot;) was sufficient to cause Nixon and other politicians before him to alter the terms so that more paper could be printed.[/QUOTE]</p><p><br /></p>

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