is at this post.....the key point that he made was that this is the first currency recognized as official by independent states that is not backed by gold.
The quote:
The euro is going to be a big source of problems, not a source of help. The euro has no precedent. To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states.
There have been unions based on gold or silver, but not on fiat money—money tempted to inflate—put out by politically independent entities...
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