Fiat Money Explained: Benefits, Risks, and Global Examples

Fiat Money | Definition, History & Examples

💷 When Real Money Stopped Being Money 1966 Part 5 of 7 – “The Hidden History of Australia” In 1966, Australia abandoned the pound and moved to decimal currency — the final break from real, substance-backed money. Gold and silver were replaced with paper and promises, and value was no longer measured in weight, but in trust. From that moment, every dollar created carried a matching debt. The wealth of a nation shifted from its people and resources to a system of credit controlled by the few. Tha