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To: roguedolphin who wrote (79933)	6/8/2008 4:31:32 PM
From: pogohere	Respond to of 116555

"The end result, however, is the same as turning on government printing presses and simply manufacturing fiat money (money created by the order of government with nothing of tangible value backing it) to pay government expenses." The above is not a very useful reference to "fiat" and its creation. Governments have created "fiat" quite successfully in the past, and yes, with assets of tangible value backing it. There is an ongoing discussion about money in which the term "fiat" is used as a pejorative. This is misleading and will not facilitate clear thinking or useful analysis. "Therefore, as long as the Federal Reserve exists, America will be, must be, in debt.." By definition, "money" created by the Fed is debt. That is the road to serfdom. "The Creature From Jekyll Island" is an excellent book. "The Lost Science of Money," Stephen Zarlenga, puts the history of money in a long-term historic context that illuminates these issues and exposes many myths about money and the manipulation of it by those who would keep us slaves.