Fiat Money

Fiat means "Let there be," as in the Latin term "Fiat Lux;" "Let there be light."

Fiat money is money declared by a government. It's money that doesn't really exist except by governmental ordinance.

In years gone by, only gold and silver were money. Inflation was unheard of. On the contrary, the more industrious a nation was, the lower the costs were, and the more a nation prospered.


Fiat money is created by our banking institutions, printed by our Federal Reserve and given our government's ordination as legal tender.

At the stroke of a pen our entire country (and almost every other industrialized country) can be bankrupted because we don't have the gold nor the silver to backup our presumed wealth.

Fiat money is fake money. There is no true wealth behind it, except that which is ordained by a government's ability to declare war on other nations and take their wealth.

The Pound

In days gone by, only gold and silver were used as money. In the developed world, only gold and silver held any value as a medium of exchange.

In Britain, one pound of sterling silver became known as one pound sterling; one British pound (£.)

The symbol for the pound (£) is the letter "L." The letter "L" is the abbreviation for libra, commonly abbreviated as "lb" in the US and Mexico. Libra in Spanish means pound in English.

Image Source: skirebel.com

The Peso

In Mexico the Spanish "Ocho Reales" became known as the Peso.

Peso, means weight. One peso means one weight, in reference to the weight of the Piece of Eight, so one peso meant one Spanish Real, or a Piece of Eight.

Mexico was the first country to use the $ sign, which the US later adopted for it's currency.

Info Source: wikipedia.org
Imager Source: commons.wikimedia.org

Bank of America

Contrary to the History Channel's "America, The Story of US" the bank of Massachusetts did not become the Bank of America, the Bank of America was formerly The Bank of Italy, based in San Francisco. Having nothing to do with Massachusetts.

It was founded in San Francisco in 1904 by Amadeo Giannini. It grew by a branch strategy to become The Bank of America, the world's largest commercial bank with 493 branches in California and assets of $45 billion in 1945.

Evidence:
June 24, 2010
An episode on Ernest & Julio Gallo Winery. The
narrator says that Julio (or Ernest) went to the bank in Modesto to take out a
loan, the bank on the picture accompanying this statement was a picture of The Bank of Italy.

Infor Source: wikipedia.org; TV documentary
Image Source: latimesblog.latimes.com

Piece of Eight

The History Channel's "America, The Story of Us" claims that Britain controlled the currency in the colonies and the new world.

False!

Spanish currency controlled the colonies AND the new world.

The 8 Reales was the main currency in the colonies and in Mexico. Mexico was the first country to use the current dollar sign ($), which the united states later adopted.Whereas Britain has used the pound sign (£) as it's monetary symbol.

The Piece of Eight was the Spanish colonial "Real."

These "Reales" were the bonafide coinage of the colonies and the US until the Coin Act of 1857.

Info Source: wikipedia.org; Bounzer777
Image Source:  goldcobs.com

Bonafide

Bona comes from the same word as does the word Bond.
Fide is derived from the Latin root word Fides, which means fidelity (honesty, truthfulness, faithfulness.)
Bona is derived from the Latin root word bono, which means "good."
So, bonafide means "In Good Faith."
So, a bond...is GOOD!