Sat, Nov 1, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Currencies more

The failure of fiat currencies

Posted on 22 May 2013

Fiat currencies are paper monies issued andcirculated by government legislation and decreed as a country’s legal tender tofunction as a medium of exchange for all transactions of goods and serviceswithin its economy. Only the federalgovernment has the power and the authority to issue currency notes fordistribution throughout the nation.
Fiatcurrencies, such as those currently in circulation within the world’s majoreconomies, such as the United States (Dollar), the United Kingdom (Pound),Japan (Yen), China (Yuan/Renminbi) and the European Union (Euro) are ‘promises to pay’, backed solely by ‘the full faith and credit’ of theissuing country, or countries……………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 37739 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
November 2014
S M T W T F S
« Oct    
 1
2345678
9101112131415
16171819202122
23242526272829
30