Fiat money refers to national currencies that, in contrast to commodity money such as gold or silver, are created “artificially” by states or governments. Fiat money therefore has no intrinsic value, but contains the promise of being valid as a means of payment. Ergo: All it would take is a PROMISE from the government and the central bank and you could go shopping with Monopoly money. 🙂

On the one hand, we have to be happy if cash is NOT abolished. Without cash we are completely enslaved and on a short leash. Then there's nothing left to do with stashing a few hundred euros at home for a rainy day or shopping anonymously. On the other hand, the promise that this piece of paper can be exchanged for goods can also be revoked very quickly. So we are enslaved either way - the cash is just the slightly longer leash that makes you think you are somewhat free... 🙁

You should know that only a fraction of the money actually exists in notes, at the Landesbanken 1:20, at the ECB only 1:100. So if only 1-5% withdraw their money in cash, then the entire book money system collapses completely. In most cases, even the paper is not available as equivalent value.

Fiat money: Appearances are deceptive


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"Dravens Tales from the Crypt" has been enchanting for over 15 years with a tasteless mixture of humor, serious journalism - for current events and unbalanced reporting in the press politics - and zombies, garnished with lots of art, entertainment and punk rock. Draven has turned his hobby into a popular brand that cannot be classified.

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