The Maier Files | fiat money
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fiat money Tag

The business of banking in Europe in the fourteenth century function was to evaluate, exchange, and safeguard people's coins. In the beginning, there were notable examples of totally honest banks which operated with remarkable efficiency considering the vast variety of coinage they handled. They also issued paper receipts which were so dependable they freely circulated as money and cheated no...

Consider the title page of The Economist in 1988, (9 jan. 1988) presented above, which insinuated another world money and noticeably included "2018" on the spread. Most realize that the financial world often arrange things decades ahead of time. The euro currency is such a case. "THIRTY years from now, Americans, Japanese, Europeans, and people in many other rich countries, and...