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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Jeff Jordan who wrote (383637)4/6/2009 11:42:08 AM
From: Horgad  Read Replies (1) of 436258
 
It does seem a little circular. "We will back your FIAT currency if you back ours." All it seems to guarantee is that they all fall more or less together in an orderly fashion. So they keep the exchange rates more or less the same and keep international trade going to some extent, but it does nothing to stop FIAT from getting flushed.

Or maybe it delays the end game. I always imagined the FIAT currencies getting picked off one by one as countries panicked out of one country or another, but it seems like it is going to be more complicated than that: groups of countries standing together and falling or rising against other groups of countries or the whole FIAT world slowing eroding together?
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