Absolutely, that's why the cries of "fiat currency" ring false upon examination. The only reason anything holds value is because the reciever views it as something valuable.
If 10 cute baby bunnies were suddenly worth a brand new Lexus, there would be people complaining that that the cute baby bunnies are fiat cute baby bunnies because they are not back by gold.
Absolutely, that's why the cries of "fiat currency" ring false upon examination.
Really, so if I have a printing press and you have a hole in the ground, you can extract metal and turn it out as money as fast or faster than I can roll it off the press in paper?
The issue is fiscal DISCIPLINE and that's what PM based monies confer.