I shake my head every time people say this. Money is only backed by the labor of the people. That's it. This means that we the people need to be in charge of printing our money, not private central banks. Whether money are rocks or whether they are pieces of paper, makes no difference.
How about you read a little history? Benjamin Franklin’s autobiography for example. He has shown that not too much, and not too little of money can spur great growth in a community by printing money in Philadelphia. And he was a strong advocate for paper currency; this paper currency was not redeemable for any coin. It was however able to be used to pay taxes. Granted, Philadelphia was one of the few successful communities to have done so; the circumstances respecting its success I do not recall.
https://founders.archives.gov/documents/Franklin/01-01-02-0041
I shake my head every time people say this. Money is only backed by the labor of the people. That's it. This means that we the people need to be in charge of printing our money, not private central banks. Whether money are rocks or whether they are pieces of paper, makes no difference.
How about you read a little history? Benjamin Franklin’s autobiography for example. He has shown that not too much, and not too little of money can spur great growth in a community by printing money in Philadelphia. And he was a strong advocate for paper currency; this paper currency was not redeemable for any coin. It was however able to be used to pay taxes. Granted, Philadelphia was one of the few successful communities to have done so; the circumstances respecting its success I do not recall. https://founders.archives.gov/documents/Franklin/01-01-02-0041