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<p>[QUOTE=&quot;Drusus, post: 785029, member: 6370&quot;]Money serves a very real purpose. It is simply a system of valuation and exchange and what ever flawed form it takes, it has to be there for society to exist. Wanting more often goes hand and hand with great achievements. Its the difference of existing/surviving and thriving/advancement.</p><p>&nbsp;</p><p>As for the Original topic of fiat money. To be honest, I believe fiat money (while the concept is a bit nebulous) has often been used simply to denote what, in a given system of exchange, would be considered a debasement of the medium of exchange. Possibly during times of emergency and decline.</p><p>&nbsp;</p><p>I have always seen Notgeld as a representation of where fiat would be applicable. They were on a standard of exchange based on precious metals combined with valuation of resources. There came a time when they had little precious metals and most output of their resources and work were spoken for. So they had to simply go fiat. Not only was the money no longer precious metal, but even the money being printed or minted on base metal had nothing to back it. Its worth only had the promise of either a broke government or some local authority. It was truly money only back by &#039;say so&#039;</p><p>&nbsp;</p><p>I think part of the term derives from not only what the medium of exchange is but what very real resources back it.[/QUOTE]</p><p><br /></p>

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