Fiat money is money that is issued by decree. It has no intrinsic value. Its value in commerce or society has no actual foundation and is only based on the value declared by the government. Such a monetary system only exists as long as the government is trusted. captured that trust ever be in doubt, the money could easily become worthless.
Originally, the United States monetary system was based on money that was 100% backed by gold and silver, just as the US Constitution specifies. Over time and many wars, however, the US government diluted the value of the USD. Now the USD is not backed by anything but the foul hot air of politicians who know no value. The world has been deceived into believing that the US Dollar still has value, but it is backed only by “the full faith and credit of the United States.”
Unfortunately, the problem of a zero-backed USD is worse than zero backing. Now the USD is solely based on debt! That debt now falls on you, me, our children, grandchildren and future generations until the debt-based USD fails as every debt-based monetary system always has.
Bernard von NotHaus, Chairman / LDFA | Wayne Hicks, CEO / LDFA
LIBERTY DOLLAR FINANCIAL ASSOCIATION
The Liberty Dollar Financial Association (LDFA) is based on nearly fifty years of monetary research and the culmination of three years of designing, developing and testing a market-driven monetary model by Bernard von NotHaus, with Kathy and Wayne Hicks. LDFA (structured as a Private Membership Association) allows its members anywhere on the planet to utilize the power of silver, profit from the unavoidable impending hyper-inflation, help return the world to a value-based monetary system and put some real money in their own pockets at the same time.
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