Fiat and the Abuse of Using This Term

[NorthCarolinaLiberty]

Fiat: Fix it again, Tony.

 

[H. E. Panqui]

heavenlyboy34 writes: "Gold, on the other hand, meets ALL the criteria for being money and can be used as such whether or not the regime has an official metallic standard."

(...no sir...THE MOST IMPORTANT CRITERIA (historically, not theoretically) IS THAT "THE GOVERNMENT OF JURISDICTION" RECOGNIZES/AUTHORIZES/DECLARES/etc. (whatever) IT AS MONEY..

..and THE FACT remains that frn's, DE FACTO, not gold, silver, etc.. 'are acceptable in payment of dues to government'..and before anyone opens their republicrat parrot holes about some states (?idaho, etc.) declaring silver, etc., 'legal tender'...if true, i believe you'll find that (only) US TREASURY silver, etc., coins are 'legal tender'...and they are 'valued at face'...i.e only the US TREASURY MINTED 'silver dollar' (dollar of silver) for which you cough up 20 frn'$ to acquire will count 'as money'..and they will only 'count' as one 'dollar' (stamped on the coin) in payment of dues to government, in court, etc..

...put away childish thing$...put away the stinking republicrat economic theories/myths...

 

[acptulsa]

heavenlyboy34 writes: "Gold, on the other hand, meets ALL the criteria for being money and can be used as such whether or not the regime has an official metallic standard."

(...no sir...THE MOST IMPORTANT CRITERIA (historically, not theoretically) IS THAT "THE GOVERNMENT OF JURISDICTION" RECOGNIZES/AUTHORIZES/DECLARES/etc. (whatever) IT AS MONEY..

..and THE FACT remains that frn's, DE FACTO, not gold, silver, etc.. 'are acceptable in payment of dues to government'..

He didn't say that it could be used for all debts, public and private. He simply said it could be used as money.

And if you were selling your car, you'd accept gold in payment if you were offered enough of the stuff, too.

You obviously really, really enjoying arguing. Pity you aren't any better at it.

 

[H. E. Panqui]

actuptulsa becks: He didn't say that it could be used for all debts, public and private. He simply said it could be used as money. And if you were selling your car, you'd accept gold in payment if you were offered enough of the stuff, too.



(for crissakes!!...what's your point?!..i'd accept aged horse manure, firewood, 2x4's, pre-1967 martin guitars and gibson banjos, etc. AD GD NAUSEAM 'if i were offered enough' of them..WHAT'S YOUR POINT?!

...MY POINT IS THAT WHEN YOU AND I GO DOWN TO THE TOWN OFFICE TO PAY OUR YEARLY $3000 'property tax bill', etc. 'bill$' ad gd nauseam, WE CAN'T USE GOLD, HORSESH!T, 2x4's, guitars or banjos...WE WILL USE FRN'S...or soon face the harsh reality of who TRULY owns 'your home'....(hint for republicrats: it ain't you!)

...MY POINT IS THE REALITY THAT VIRTUALLY ALL TRANSACTION$ ARE CONDUCTED WITH 'FRN$'..and that YOU are WORSE THAN merely ignorant of the origin, nature, etc. of said 'frn$'....(i.e. what you THINK you 'know' is riddled with falsity/fantasy)

 

[Ralph Coffman]

...MY POINT IS THE REALITY THAT VIRTUALLY ALL TRANSACTION$ ARE CONDUCTED WITH 'FRN$'..and that YOU are WORSE THAN merely ignorant of the origin, nature, etc. of said 'frn$'....(i.e. what you THINK you 'know' is riddled with falsity/fantasy)[/QUOTE] --------------------------------------------------------- That's PRIVATE Federal Reserve Notes which
are part of the Petro Dollar Ponzi Scheme...

 

[acptulsa]

...MY POINT IS THE REALITY THAT VIRTUALLY ALL TRANSACTION$ ARE CONDUCTED WITH 'FRN$'..and that YOU are WORSE THAN merely ignorant of the origin, nature, etc. of said 'frn$'....(i.e. what you THINK you 'know' is riddled with falsity/fantasy)

That's PRIVATE Federal Reserve Notes which
are part of the Petro Dollar Ponzi Scheme...

Well, you must be wrong, because that's exactly what I think they are, and Hanqui Panqui says I'm wrong.

Either that, or we're both right and Hanqui Panqui either can't read plain English, or is just one of those people who when you say, 'Yes,' says, 'YOURE WRONG the an$wer is YE$...'

 

[H. E. Panqui]

actuptulsa hannity's: "No one buys gold because some government declares it to be valuable. People buy gold because they value it themselves.



(a little hint for republicrat theorists/mythologists: MOST people pay/spend (x)frn$/'dollars' for gold/silver/etc. PRECISELY because they believe/hope they will be able to 'sell'/exchange/etc. said gold/silver for many more frn$/dollars in the future...hint for republicrat theorists/mythologists: ..listen to how the biggest sellers of gold/silver advertise their product to the masse$..)

...another little tip for those under the influence of stinking republicrat economic 'thinking' and false history:...remember, even during your false, so-called 'gold standard' that 'we' were supposedly using back in 'the good old daze' GOLD, PER SE, WAS NOT "THE MONEY"..GOLD COINS, AUTHORIZED BY 'THE TREASURY' COULD BE USED AS MONEY..BUT I BELIEVE YOU'LL FIND (if you turn off the glenn beck and do some honest inquiry) THAT MOST ECONOMIC TRANSACTION$ WERE CONDUCTED WITH 'UN-BACKED' BANK 'CREDIT'...i.e. 'legalized' bank counterfeit...

...so when you hear one of these miserable stinking republicrat politicians yacking about some 'return to the gold standard' you ought to know you are listening to a gd fool/monetary ignoramus...

 

[Ralph Coffman]

All money, isn't worth anything by itself. All money even gold & silver is just used to get what we really want!

 

[Paul Or Nothing II]

And the only thing excellent about that rambling, somewhat acerbic thread is that we are all free not to click on it and plow through it.

Well, you must be wrong, because that's exactly what I think they are, and Hanqui Panqui says I'm wrong.

Either that, or we're both right and Hanqui Panqui either can't read plain English, or is just one of those people who when you say, 'Yes,' says, 'YOURE WRONG the an$wer is YE$...'

ROFL

 

[osan]

Spin-off from another thread. Martin Armstrong on the subject.

Fiat is declaring something has a certain value.

Um, no. Fiat is declaration, period, under the presumption of authority.

A gold standard is a fiat standard since the government declares the value of gold.

Once again, no. US gold-backed and demand-convertible money was still fiat money precisely because Congress said that that was the legal tender (and actually it was not legal tender, but I'm being lazy and calling it just to be... well, lazy). Anything demanded of a person by mandate is by definition "fiat".

Actually our money today is less fiat than under a gold standard because the value of the dollar is allowed to float.

As wrong as it gets. If anything, it is "more" fiat (if that can even be the case) due to the mainly electronic nature of the currency whereby your economic movements may now be closely scrutinized. And let us not overlook the fact that you are referring to the FRN as "money", which it is no such thing. It is nothing more than a fiat currency. The FRN has no connection to money other than superficially in that it is a medium of exchange.

And just in case you were going to attempt to call me on it, allow me to forestall you with the definition, courtesy of the Oxford Etymological Dictionary:

fiat (n.) 1630s, "authoritative sanction," from Latin fiat "let it be done" (used in the opening of Medieval Latin proclamations and commands), third person singular present subjunctive of fieribe done, become, come into existence," used as passive of facere "to make, do" (see factitious). Meaning "a decree, command, order" is from 1750. In English the word also sometimes is a reference to fiat lux "let there be light" in Gen. i:3.

Dixitque Deus: Fiat lux. Et facta est lux. [Vulgate]​

 

[osan]

Thread is starting to remind of the movie The Man Who Would be King. There is a scene where Michael Caine's daughter bites Sean Connery, which finally spoils Danny and Peachy's plan to make off with the riches. Connery's blood is spilled, revealing that he is not a god after all.

If only somebody would just bite the fed hard enough to call their bluff.

I remember it well. I liked it.