Funny Money

Finally there is recognition in the mainstream that government backed fiat currencies function on the belief that governments can collect enough tax to repay debts. US dollars are no different than bitcoin or even cigarettes in prison barter systems.

Since there is nothing but faith and the military backing the government currencies we use to settle debts today naturally a new currency that is also backed but nothing but faith is seen as a major challenge and most definitely a threat.

As the great Mahatma Gandhi once said, "First they ignore you, then they laugh at you, then they fight you, then you win."

References:

• Failure of Fiat Money

• Commodity money vs. Fiat money