Are Dollars Backed By Anything Real?

Last month an FT writer (“Fiatbro Times” per Saifedean) by the name of Brendan Greeley was on the receiving end of wide ridicule for demanding that people stop calling government money “fiat.”

Greeley’s creative argument was that people say governments “magic dollars out of thin air” when, actually, governments magic dollars out of thin air then buy rea…