[Pen-l] Gold money is fiat money too.

[Sabri Oncu <sabri.oncu@xxxxxxxxx>]

Gernot:

> I believe that most socialists are cold to the notion and discrete charme
> of global fiat money because it is not in the books of Old Whiskers. KM
> believed in the gold standard. Gold was the true international money in his
> view.

Gold money is fiat money too, because gold is infinitely divisible at
the continuum level, not at the quantum level. But who cares about the
quantum level? You can create as much money as you like by
re-numerating any currency based on gold. And this can only be done by
fiat.

So, why should I be cold to any kind of fiat money whether it is gold
money or SDR or whatever?

Aren't all moneys fiat moneys?

Best,
Sabri
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