FIAT – The Truth About Money

This book on FIAT is perhaps the most definitive work on this subject tracing the origin of this theory and why it has become so distorted. The lack of understanding of what even constitutes FIAT that all paper currency is just FIAT because it is not backed by some commodity, prevents us from comprehending not merely what is money, but its role within the global economy. Coins over the century could be struck in gold, silver, bronze, or some copper-alloy and its value was decreed to be be far more than its metal content. FIAT is by no means just paper money.

Then there is the questionable Elastic Money used by central banks creating inflation combined with discredited Keynesian Economics assuming society can be manipulated with interest rates. But is money exclusively the product of a central bank? Has debt become money that just pays interest? Are we blaming the gun for a murder rather than the person who pulls the
trigger? Is debt a part of the monetary system? Does bank lending create money privately? Where does BITCOIN fit into this quagmire of trying to define what is actually money?

These are just some of the questions answered in this important book.