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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Hank Scorpio who wrote (14951)	12/21/2022 2:33:33 PM
From: Sun Tzu	Read Replies (1) \| Respond to of 26490

>> Fiat is basically a derivative of something of tangible value. This not true. You have misunderstood the word. Until Nixon, the USD was a gold backed currency. It was what you claim to be a fiat currency because it was backed by the gold in the treasury. Afterwards, it became a fiat currency. A piece of paper that only had value because everyone agreed that it does. From Wikipedia: Fiat money Wikipedia·en.wikipedia.org › wiki › Fiat_money Fiat money is a type of currency that is not backed by any commodity such as gold or silver. It is typically designated by the issuing government to be ...