Very true DB 318. Since 1971 when Nixon unhinged the dollar from the price of metals the dollar has been a Fiat Currency as well. The Chinese wanted to be paid in gold/silver so Nixon decoupled the dollar from being a "silver certificate" and let it float. The only value the dollar has now is in our perception that it has value. And globally for now at least it is the most preferred currency in the world. This is based on the fact that our government says they will pay their debts and I guess their word means something for now too.
