by tonytran2015 (Melbourne, Australia).
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Fiat money is just “Coupons for paying taxes and receive goverment’s goods and service”. Calling it money is just an attempt by issuers to confuse it with real moneys (like gold or food). Fiat money should not be viewed as any kind of exchangeable natural valuables but as only coupons (with various half-lives) issued by each nation to its citizens to pay to that nation its taxes, services, and state supplied goods.
Once a nation (the taxing authority) ceases to exist, so do its coupons and its fiat money!
Former USSR, Eastern European Communist Countries were with a system of fiat money not unlike current USA is.
With enough reckless printing, “easy to print coupons” may become not appreciated by its citizens and that is when we say hyper-inflation occurs to that fiat money.
There is NO MAGIC in wealth creation with printing fiat money.
. Your fiat money (Part 2), https://survivaltricks.wordpress.com/2017/01/12/your-fiat-money-part-2/.
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