[Roberts]

Your ignorance is surpassed only by your arrogance.

"Fiat currency" is not a 'goldbug' term. It is a description of currency that is not backed by any solid asset, but is backed only by the full faith and credit (i.e. the promises) of the government that issues it.

[nopardons]

I'm not the ignorant one here. I know what and how the term is used, but I was telling YOU who the primary users of it are, here.

Oh yeah...I'm the "ignorant" one, but Ron Paul, your "hero", wrote an article filled with lies and 1/2 truths and completely inaccurate info. LOL

[Appalled but Not Surprised]

"Fiat currency" is not a 'goldbug' term. It is a description of currency that is not backed by any solid asset, but is backed only by the full faith and credit (i.e. the promises) of the government that issues it. >>>

Uh, the promises AND the assets. The assets of the U.S. government are certainly worth vastly more than a few tons of refined yellow metal in a safe.

[Marxbites]

And here I thought taxpayers were "the full faith and credit" of the country.

Course the Fed can just roll the presses as it has done in every financial storm causing a boom and it's malinvestments that only has be slowed again with the rate hikes that cause recessions.

And if you think that after the recent 1% rates of easy credit that we won't be seeing another 1987, 1994 & 2001, you've got your head in the sand, or are just to young to know better.