its true that all debt is fiat but for now the dollar is the world reserve currency. if china can get countries o change to the yuan, we will be screwed. just like england when we replaced the pound. the fiat part is one reason libya had to be bombed into democracy–they tried to start a gold backed currency
well it is true they are printing mind numbing amounts of fiat–but look up how many TONS of gold they (and russia) are buying with the fiat. if the reserve currency changes and the dollar is devalued they are ready..
we just picked up 50 tons of gold in syria that was stolen by isis from the govt. people say but we spent a trillion getting it so it was not worth it, but for the eliets to spend a trillion fiat–guarrentied by our labor–to get 50 tons of real money??
chinas assets are our manufacturing base–our assets are big screen tvs they sold ud haha
yes it will get interesting