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How does fiat money work?
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[quote:WW RAUPP:MV80MjA1ODdfNjUyOTIxOV8zQjkyOTA1Qg==] [quote:Anonymous Coward 270862]The ultimate way that it works is the smart ones buy up the gold, silver, land or any any other liquid form of wealth with paper. A silver dollar used to be a weeks wage. Now it's about an average hours wage. 40:1 Fiat = fail.[/quote] One dollar was a days wage, not a week. Find out some information before making a claim, dickhead. [/quote]
Original Message
How do financial markets decide how much one country's worthless fiat currency is worth v. another country's worthless fiat currency?
To me, it's like this: I sign my name on a piece of paper and you sign your name on a piece of paper. How can one person's signature be worth than another person's?
Please explain!
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