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I must admit I've never bought the people saying that fiat money is bad and that they prefer gold or whatever but big government curb their liberties etc...

In the current system, including for paying taxes, you can right now be practically independant from fiat money value fluctuations.

You just have to have a bank account and minimal fiat money for the day, the trick is to log on internet each evening and use all or most of the positive balance to buy gold or whatever fund you want to keep the balance near zero. You need to buy something? Just sell your whatever fund and use the fiat money immeditely to make your purchase or pay your taxes.

So no issue here, the current system allows you the freedom not to depend on fiat money value at the cost of one click per day.

Of course if everyone does that, all the private banks of the world have to change their model since the government granted priviledge of creating money is of no use anymore since all customers accounts have zero balance...

by Laurent GUERBY on Fri Jun 30th, 2006 at 02:58:47 PM EST
[ Parent ]
You might have read something which was not there.

I have no problem with fiat money and I am happy not having to carry big pieces of metal around. But I find the construction interesting.

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by A swedish kind of death on Fri Jun 30th, 2006 at 11:05:10 PM EST
[ Parent ]
Indeed, my note was not directed at your comment, but just to inform ET'ers on my view on the "fiat money = evil mandated by the government" things that are sometimes said in libertarian circles :).
by Laurent GUERBY on Sat Jul 1st, 2006 at 07:09:36 PM EST
[ Parent ]

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