Gold and Fiat Currencies
Gold and Fiat Currencies - The Confidence Game
By Tony DiCicco
tonydco@attbi.com
4-10-2
This essay represents my views on the "management" of gold and fiat currencies. Throughout history this "con" and its variations have occurred many times - robbing the hard-earned money of its citizens, and creating ever-greater wealth accumulation for the already wealthy.
Historically, the strongest and most stable currencies were those backed by gold and silver. It was this gold/silver backing that gave the currency its intrinsic value. In most cases, a country's currency was actually gold or silver coins. Gold and silver have always been a universal form of money and measure of wealth providing stability in an otherwise unstable world. Today we are told that gold and silver as a monetary value is obsolete, and that fiat currency can perform the same function and have the same safety as a gold/silver backed currency.