mollytjm

Iceland: What It's Like to Live in a World Without Money

our government is about the same...we have fiat money...$ by agreement. this works when everyone agrees. just as the confederate $ is worthless except to collectors, this can happen to any fiat money system. there is no actual billions of savings that the government has. it just has it on paper and they set the value, by agreement. scary stuff. as soon as our $ went off the gold standard, we were playing without a net. i don't know the answer. i just know that removing controls so ordinary people could get into such serious financial debt was not the way to make sure the 'agreement' held.