主题：【原创】四面楚歌之美国篇 美国金融之庞氏局 -- 井底望天

Under Gold(silver) Standard, until, 1920s, this statement is not true.

After the collapse of gold standard of 1930s, yes.

You read the balance sheets of all central banks. It is just there. Debit/Credit...基于债务=monetarize central gov. debt notes.

In finance, it is called "monetarization". In fact, you can monetarize anything as a gov.

IN TODAY'S WORLD, ANY CURRENCY IS JUST A liability note from the gov. It is only as good as the fiscal situation of that gov. That's what we call "fiat money"--money in circulation purely by the FORCE OF the government.