> Fiat is backed by weapons. I interpret this to mean: The major fiat currencies are ultimately backed by their respective government's willingness to use war

> Fiat is backed by weapons. I interpret this to mean: The major fiat currencies are ultimately backed by their respective government's willingness to use war to preserve their economic interests. The other fiat currencies are based on the level of mutual interest in economic partnerships or trade relations between the majors and the non-majors. ... This is intuitively sensible to me, but I am not an economist.