@jonoiv
Gold has nothing to do with this, and FYI fiat isn't backed by gold or any tangible assets since 40 years. Some currencies are 'defended' by a certain amount of gold in currencies wars, but that is the extend of it 'backing' anything these days.
Gold has nothing to do with this, and FYI fiat isn't backed by gold or any tangible assets since 40 years. Some currencies are 'defended' by a certain amount of gold in currencies wars, but that is the extend of it 'backing' anything these days.
It's backed by the ability to prove a debt can be ultimately paid in gold as assumed by the credit agencies.
Currency is backed by assets, at least my currency is (GBP). our QE was backed by the purchase of assets. When called to pay debts they are settled in gold.
Don't be silly. The small amount of assets that central banks have is nothing compared to the fiat they print. Most assets in central banks are leveraged at 30-40:1 (and usually by shitty assets), and the leverages are going up little by little.
Correct. The Federal Reserve even had to change its accounting rules 4 years ago to prevent it going "technically" bankrupt
http://www.zerohedge.com/article/creative-accounting-makes-fed-insolvency-impossible
I think it is where my eyes and brain fell out after reading ^^ 
