Fiat currency

One of the things that’s so difficult about trying to talk to a teabagger is their dogmatic devotion to certain false “facts”, and one of them is their veneration of the gold standard as the only “true” currency. (It’s of course a coincidence that so many of the right-wing talking heads who push this ideas are hawking gold through their radio, TV and internet shows.)

So here’s a good explanation of how paper money has worked for the United States, and why Benjamin Franklin thought it was progressive.

One thought on “Fiat currency

  1. >>One of the things that’s so difficult about trying to talk to a teabagger is their dogmatic devotion to certain false “facts”

    Yes, it’s a lot like trying to reason with Obamabots in 2008. Which was a lot like trying to reason with Bushbots in 2000. Sometimes I wonder if they were actually the same people.

    Carolyn Kay
    MakeThemAccountable.com

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