Let There Be Money

The US dollar is fiat money.

Which means it isn’t backed by any commodity, such as gold or silver, but it is instead backed by the government itself.

Fiat is a latin word that means “let it be done.”

In fact, in the Vulgate (which is the latin translation of the Bible), God’s first words were, “Fiat lux,” or “Let there be light.”

With fiat money, the government says, “Let there be money.”

So, just as God spoke light into existence, so also our government believes it can speak money into existence.

What do you think?
Joseph