No. of Recommendations: 1
captainccs - "Today the commodity is a piece of paper that says that you can trade it in for another identical piece of paper. The only thing special about it is that the government will accept it in payment of taxes. This is what makes these pieces of paper "legal tender." Otherwise, dollar bills are no different from gold, silver, tobacco, sea shells, animal pets or anything else we designate as "money.""

Dollar bills (paper money) are totally unlike other forms of money in that these can be manufactured (printed) at will whereas a commodity type money must be mined, grown, hunted or in some other way created by through extensive effort and knowledge.

As a child my parents made me aware that money didn't grow on trees, as an adult the FED has informed me it is created by printing it. However I agree with your conclusion - Abolish the FED and with that, Fiat Money.
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