founding fathers

Why the Founders Rejected a Central Bank
by Rep. Ron Paul

The Latin term “fiat” roughly translates to “there shall be”. When we refer to fiat money, we are referring to money that exists because the government declares it into existence. It is not based on production or earnings, and not backed by any commodity. It is solely based on trusting the government.

I just saw this story on one of my favorite daily reads, "Axis of Evel Knieval" The site is a sort of This day in sordid history chronicle. Yesterday, May 31st's entry, was about George Washington ordering the genocide of the Native American tribes that sided with British in the American Revolutionary War.