LETTER

Temchuk on “fiat money”

 

I’m not sure I got Mr Temchuk’s exact argument about the basis of currencies and the ability of governments to fulfil their debts by printing money, or borrowing it, but don’t most economists agree that a physical commodity like gold is more secure than “fiat money”? I think he is on to something! I’d like to read more about the dangers he hints at . . .

 

R. Fielding
Hull