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Rejecting Fiat Currency

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Fiat money is a type of currency that is issued by a government and declared to be legal tender. It is not backed by any physical commodity, such as gold or silver, but instead relies on the faith and credit of the government that issued it. In recent years, the use of fiat money has become increasingly popular, as it allows governments to control the money supply and manage inflation.

However, there are many people who are critical of fiat money and its use. They argue that it is not a stable form of currency, as it is not backed by any physical commodity and is subject to the whims of the government that issued it. They also argue that it can lead to inflation, as governments can print more money to pay for their spending, which can lead to a devaluation of the currency.

In addition, some people argue that fiat money is not a fair form of currency, as it is not backed by any physical commodity and is subject to the whims of the government that issued it. This means that the value of the currency can be manipulated by the government, which can lead to unfair advantages for certain groups or individuals.

Finally, some people argue that fiat money is not a secure form of currency, as it is not backed by any physical commodity and is subject to the whims of the government that issued it. This means that the value of the currency can be manipulated by the government, which can lead to a lack of trust in the currency.

Overall, there are many criticisms of fiat money and its use. While it has become increasingly popular in recent years, it is important to consider the potential risks associated with its use before deciding whether or not to use it.

2 thoughts on “Rejecting Fiat Currency”

  1. I’d recommend keeping a few months expenses in fiat to offset volatility. Think of Bitcoin as your savings account but until Bitcoin gains some more market cap and volatility decreases I would still use fiat for your checking account for.

    Reply

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