Re: It's actually quite hilarious
The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of
Not really.
As the printing presses run and promises are being made that future taxpayers can be milked enough (under threat of violence) to pay back the current promissory notes held by the corrupt owners of "government bonds", this becomes more and more of a situation where everyone is grabbing the balls of person next to him and everyone hopes that no-one sneezes.
Which bring us the idea whether Ghaddafi went from "friend" to "fiend" in 50 seconds because he wanted to set up a gold-backed North-African currency.