keynesian economics fiat

discussion
Jim H
By Jim H on Fri, Jan 10, 2014 - 10:45pm

How Good is Gold? How Bad is the Fiat?

I have always thought that Gold's place in the monetary universe can only be truly appreciated by developing a deep understanding of the workings of the predominant fiat currency, as controlled by central banks.  It happens that a piece published (outside the pay wall) on the TFMetalsreport website recently serves very effectively in illustrating the depths of fiat dysfunction. 

Here are the main points that the writer, a contributor who goes by the name Pining 4 the Fjords, makes;