> Most of the world's currencies don't have backing these days. Not true. They have the backing of their government's tax payers. Backing doesn't need to be

> Most of the world's currencies don't have backing these days. Not true. They have the backing of their government's tax payers. Backing doesn't need to be a hard asset like gold, it can merely be the full faith and credit of said government. > Also for the record the only reason backing is important at all is because backing means there's a finite amount of currency that can be created. Again, not true; backing is important because you want to know your money is safe, not because it's impossible or difficult to inflate.