Is everyone who talks about "fiat money" crazy, tout court? Or is there some sensible person out there who talks about it? Not that the concept is incomprehensible, but do non-crazy people call it something else?
Additionally, I can't decide whether I feel happy about the Sing dollar's rise (it was pegged tightly to a basket of currencies including the US dollar but is now floating more freely.) On the one hand, John got a raise! On the other hand, the money we have invested in America is worth less! But then, we'll probably want to use that money to buy things in the US for the most part, so it doesn't matter. But money is fungible so that's a stupid way of looking at it?