On 2/10/2011 11:13 AM, Darren New wrote:
> Patrick Elliott wrote:
>> Enlighten me how they are not then.
>
> Fiat currency is when someone says "Accept this otherwise worthless item
> as money, or we will hurt you."
>
>> In the end, the value is what you can spend it on. If no one wants it,
>> there isn't any difference in value between a $1 coin and a $1 piece
>> of paper.
>
> No, that's exactly the difference. If nobody wants dollar bills, you
> still have to accept them, as a matter of law, as legal tender. You
> don't get to say "Sorry, I don't think this piece of paper is worth a
> dollar."
>
Ah.. I see.. So, this differs how from say.. a king ages back declaring, 
"Use the money stamped with my image, or else."? Still not seeing how 
you have any kind of trade using money, without it being fiat. Someone, 
someplace, has a press, or a mine, or *something*, which at which they 
define the currency, and using something else isn't generally considered 
a good idea. Something about it turning worthless, or possibly even 
getting you killed in some cases, if you cross a border and try to spend 
the wrong state's, countries, or what ever, coin/paper money, or what ever.

Money is money. The only thing that isn't is an actual commodity, and 
unless you think we should be going back, as one wacko in the last 
elections suggested, to trading chickens for dental work...

-- 
void main () {
   If Schrödingers_cat is alive or version > 98 {
     if version = "Vista" {
       call slow_by_half();
       call DRM_everything();
     }
     call functional_code();
   }
   else
     call crash_windows();
}

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