so, are you saying the dollar is a worthy or worthier fiat money, backed by promise, by design, while the french fiat was less worthy, backed by church real estate promised
as technology changed, the issue of counterfeit in case of french paper is not to be used in measuring intrinsic design merit
the usd has lost vast majority of its purchasing value since inception and also more recently, because it is a fiat currency
in terms of intrinsic design merit, it claims none, not even church property
the fact that usa execution of usd schema is technically better, meaning it is a superior fraud, i agree
my understanding, though, is that conterfeiting gold is difficult
conclusion, fiat money is fiat
to try to denigrate andrew white's beautiful pamphlet, and using a 500 pages tome to do so is exactly what one should expect closet inflationists to do
i would wager you that neither maestro al greensputin nor professor charlatan buenandkaput think much merit of "fiat money inflation in france", because truth is never popular with those running a con |
