this post was submitted on 04 Nov 2023
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Political Memes

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[–] [email protected] 10 points 9 months ago (2 children)

What countries AREN'T on fiat currency.

[–] [email protected] 10 points 9 months ago

Every country I know about has a fiat currency, but the monetary sovereignty bit is also important. Governments within the EU don't have monetary sovereignty, and therefore are limited by taxation. The EU as a whole could do the same thing, because they are the body that controls the Euro.

[–] [email protected] 2 points 9 months ago

If you talk about currencies that are backed in gold, then none. The last country to abolish the Gold standard was Switzerland at some point in the 1990s.