Thread: Sterling At Risk Of “Large-Scale Devaluation”
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Old 19-02-2013, 20:38   #32
martyh
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Re: Sterling At Risk Of “Large-Scale Devaluation”
Quote:
Originally Posted by Damien View Post
I don't think the pound is backed by gold and hasn't been for a long time. This wasn't related to Brown selling the Gold either. I believe it's, like the US Dollar, a Fiat currency which basically means it's backed by Italian cars.
I own a fiat ,does that mean i'm rich ?

so basically your saying that the £ is worth as much as people say it is ,those people being other governments
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