[gnm]

http://en.wikipedia.org/wiki/Fiat_currency

$this->bbcode_second_pass_quote('', 'F')iat money is money declared by a government to be legal tender.[1] The term derives from the Latin fiat, meaning "let it be done". Fiat currency achieves value because a government accepts it in payment of taxes and says it can be used within the country as a "tender" (offering) to pay all debts. In effect, this allows it to be used to buy goods and services. In practice, people trust that the value of the currency will be as stable as the national economy which backs it.[citation needed] The most widely-held reserve currency, the US dollar, is a fiat currency. Federal Reserve Notes receive no backing by anything. In another sense however, they are "backed" by all the goods and services in the United States economy because they are declared legal tender by the Federal government.[2]

[jupiters_release]

Hilarious.

Who's the guy with the cigar in the first one?

[PenultimateManStanding]

Fiat is a pretty impressive firm. Top of the line Italian intelligence. Italians have a lot to be admired. But governance isn't one of them. Then again, neither does the US. What the heck, I'll at least say that I think Italian Baroque music is the best. Better than German or French by far.

[flapjax]

$this->bbcode_second_pass_quote('Plantagenet', '
')Would you please explain what "FIAT MONEY" is?

[davep]

It may actually be worth a simple explanation of the arrival of fiat money in a strip (along with other economic concepts, or deceptions, not so far covered). A kind of economics for dummies thing. RE, take your time, we're not on a deadline here.

[ReverseEngineer]

$this->bbcode_second_pass_quote('davep', 'I')t may actually be worth a simple explanation of the arrival of fiat money in a strip (along with other economic concepts, or deceptions, not so far covered). A kind of economics for dummies thing. RE, take your time, we're not on a deadline here.

[Plantagenet]

$this->bbcode_second_pass_quote('gnm', '[')url]http://en.wikipedia.org/wiki/Fiat_currency[/url]

$this->bbcode_second_pass_quote('', 'F')iat money is money declared by a government to be legal tender.[1] The term derives from the Latin fiat, meaning "let it be done".

-G

[Plantagenet]

I was curious about the link between Sir Isaac Newton and fiat money indicated in the strip. It isn't as clear as suggested in the strip----in fact good ol' Newton doesn't seem to have initiated the use of Fiat money in England at all.

"This lack of a defined unit of measure, as postulated by then Warden of the Mint Sir Isaac Newton, was enough to preclude the use of fiat money in England in the year 1700 and for almost 230 years thereafter."

England was on the sterling standard (i.e. silver standard) until the early 20th century, so I assume that means that the English pound wasn't actually fiat money until they went off sterling, two centuries after Newton's death?

[flapjax]

$this->bbcode_second_pass_quote('jupiters_release', 'H')ilarious.

Who's the guy with the cigar in the first one?

[ReverseEngineer]

$this->bbcode_second_pass_quote('Plantagenet', 'I') was curious about the link between Sir Isaac Newton and fiat money indicated in the strip. It isn't as clear as suggested in the strip----in fact good ol' Newton doesn't seem to have initiated the use of Fiat money in England at all.

"This lack of a defined unit of measure, as postulated by then Warden of the Mint Sir Isaac Newton, was enough to preclude the use of fiat money in England in the year 1700 and for almost 230 years thereafter."

England was on the sterling standard (i.e. silver standard) until the early 20th century, so I assume that means that the English pound wasn't actually fiat money until they went off sterling, two centuries after Newton's death?

[copious.abundance]

I'm honored that I've been put in someone's cartoon.

[green_achers]

All money is fiat money.

[ReverseEngineer]

[Quinny]

I missed number 2 where can i see it?

[oowolf]

I always thought SPG should look like Al Capp's Wolf Gal as depicted on the cover of Wolf Gal #1 published by Toby Press in 1951.
http://www.milehighcomics.com/cgi-bin/b ... 271749%201

[ReverseEngineer]

The 1st 3 DDs are in a Photo Album on the Doomstead Diner website. Currently a Yahoo Group until Jason comes up with something snazzier.

[PenultimateManStanding]

I'm guessing I'm the old guy with the glasses.

[ReverseEngineer]

$this->bbcode_second_pass_quote('PenultimateManStanding', 'I')'m guessing I'm the old guy with the glasses.

[PenultimateManStanding]

$this->bbcode_second_pass_quote('PenultimateManStanding', 'I')'m guessing I'm the old guy with the glasses.

[ReverseEngineer]

$this->bbcode_second_pass_quote('PenultimateManStanding', 'h')ow about cbx, was he right?