You have heard about fiat money, but do you know the meaning of fiat money? Fiat money is the value given to money by a governing body in order for the government to settle taxes or other debts. This money is not backed by gold or silver or other precious metals of high economic value. Inflation occurs when excessive fiat money is produced. The US Dollar is fiat money. Do you understand why the nations of the world have lost confidence in the US Dollar? What will this country look like if the dollar collapses?
March 29, 2012
Series: The Root of Every Economic Crisis
Previous Broadcasts
The Root of Every Economic Crisis Part 7 - March 28, 2012
The Root of Every Economic Crisis Part 6 - March 27, 2012
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