Wednesday, November 12, 2014

Fiat Money, Isn't Real Money

People think that what we are using today as currency is money, but it’s really just a money substitute circulating in place of money. Money is a tangible asset. Money is gold and money is silver. That’s the way it’s been for 5,000 years. The bubble has risen because we think that this paper really is a settlement, something that can be used in transactions. But, it’s just a convenience, it really isn’t money in a historical sense.

- Source, James Turk via Fin News

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