unbacked
1
7.2
- adjective
- /ʌnˈbækt/
:
sin respaldo
- This goes to show that gold and silver hold their buying power while unbacked paper money does not.
- unbacked unit
The idea was that stopping the banks from printing unbacked paper money would prevent inflation.
- The idea was that stopping the banks from printing unbacked paper money would prevent inflation.
Examples
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When unbacked paper money collapses, which it will because it always does, a new currency will replace the old fiat currencies, and it will be backed by something of real value.
Blog text (27) -
The idea was that stopping the banks from printing unbacked paper money would prevent inflation.
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The dollar is not an "unbacked" currency.
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It is time to recognize the obvious: unbacked money has never worked.
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This was the proof that unbacked fiat is impossible without taxation.
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Interestingly, even the greatest legalized plunder of all, i.e., fiat, unbacked currency, is actually made possible via taxation and could not exist without it.
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When we look back at the nineteenth century, we discover that the monetary and banking instability that existed then was not caused by the absence of a government-established agency issuing unbacked paper money.
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A Fed Funds rate of 3.50% is a most alarming signal and could lead to a stampede out of unbacked Federal Reserve Notes (misleadingly called US dollar).
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While no one knows the timing by which the future unfolds, we do know from various trends that silver is undervalued, that the developed ore fields are declining in ozs/ton of silver and gold, that most of the silver ever mined has been consumed and dispersed, and that unbacked paper money is going the way of the dodo at some point.
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Many people worry that using unbacked money could lead to economic instability.
Synonyms
1
3.9
Not held up by anything and likely to fall
1
5.2
Not paid for or supported by a company
Not officially approved by an authority or group
Having very few customers or visitors
Antonyms
How Supported
Surface Forms
Morphology
unbacked = backed (transparent) = un + back + ed
Meaning is a direct negation of 'backed' (supported) by the productive prefix 'un-'.
Etymology
The word unbacked is made of the prefix un- meaning 'not' and the word back meaning 'support', just like when someone 'backs' a friend. So, unbacked means 'not supported' or without help from others.