Buy Gold Fiat Money Has Cancer
Mike Maloney makes a great case for buying gold sovereigns and gold bullion by describing the reason why he is convinced the dollar is condemned and as a result all world fiat money systems will also fail.
fiat money: "Unbacked" currency, that which cannot be converted into coin or specie of equal value.
field: The flat part of a surface of a coin surrounding and between the head, legend or other designs.
Fiat Money
A medium of exchange such as a coin which is accepted at a face value which is greater than its intrinsic value as a result of backing by the issuing authority (usually government).
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Fiat Money - A medium of exchange where we accept the value that a government or issuing body puts on something. Real money has an intrinsic or metal value, fiat money has the backing in principal of a government.
FIAT MONEY
The name formerly given to paper currency which was issued by a government but which was not redeemable in coin or bullion.
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Fiat money is a relatively modern invention. A central authority (government) creates a new money object that has negligible inherent value.
Fiat money or fiat currency (usually paper money) is a type of currency whose only value is that a government made a fiat (i.e. decreed) that the money is a legal method of exchange.
Fiat money is NOT backed by commodity reserves but on decree. Fiat in Latin means "Let it be done". Money is no longer made of precious metal nor does it represent reserves of precious metals.
Fiat Money
Economic term for that which circulates because a government decrees it - without any reference to convertibility into precious metal.
Fiat Money
Money that is not backed by precious metals and is legal tender by governmental decree. A Federal Reserve Note is an example of fiat money.
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Suggested reading - "Fiat Money Inflation in France" filler - a coin used to "fill in" the place in a collection until a better grade coin can be found or purchased to take its place.
Skeptic in me says that it could be manipulated just as fiat money because NO ONE really KNOWS where the bulk of this commodity is or who controls it.
New banks surfaced to flood the land with a deluge of fiat money, money unbacked by gold or silver coin. The U.S. Treasury itself issued, for the first time, currency in the amount of $36,680,794--a gigantic sum for a young nation.
At that time, most Americans were uncomfortable with the notion of fiat money (money worth substantially less intrinsically than its face value) so they surely would have rejected a base-metal three-cent piece with only, say, a cent's worth of copper.
The United States government got into the paper money business by necessity, a way of financing the Civil War through money creation known as fiat money.
Red Book The Guide Book of United States Coins, issued each year since 1947, has a bright red cover and, thanks to fiat money, an ever-increasing cover price. The coin collector's Bible.
Traditionally the value of a coin comes from the intrinsic value of the component metal, but in modern times most coins are made of a base metal and their value comes strictly from their status as fiat money.
specie: In the form of coin, especially precious metal coin; paper money redeemable in coin. From Latin meaning "in kind"; see also fiat money.
silver coin flan British term for a planchet flip A pliable clear plastic holder normally used for a single coin flow lines Microscopic lines in the surface of a coin resulting from the outward flow of metal during striking fiat money ...
my aim is promote an understanding that silver retains a vital monetary purpose and is, in fact, more crucial to mankind than ever before. This is true both financially and socially - financially because of the problems associated with a fiat money ...
 See also: Gold, Silver, Dollar, Coin, Issued
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