Anon Archived What is the most laymans man way of explaining FIAT? (Monetary system, not the cars) (whatever)
submitted ago by 3565146?
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Archived on: 3/16/2020 10:00:00 AM
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Anon Archived What is the most laymans man way of explaining FIAT? (Monetary system, not the cars) (whatever)
submitted ago by 3565146?
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[–] HuginnOgMuninn ago
That's not enough.
You just explained inflation to me. You explained how within a gold backed currency, inflation can't happen, but it can happen within FIAT money. But inflation can happen in a goldback.
You have not even touched on the most important thing:
https://en.wikipedia.org/wiki/Fiat_money#Money_creation_and_regulation
Nota bene; I don't give a fuck about how you feel about my interpretation, take responsibility of it and fix it if you wish to improve your communication.