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Bust of Aristotle. Marble, Roman copy after a ...

The following quotation on fiat money is attributed to Aristotle, one of the fathers of Western thought, who lived from 384 to 322 BC.

In effect, there is nothing inherently wrong with fiat money, provided we get perfect authority and god-like intelligence for kings.

However, when I did a Google search for that quotation, it only produced 56 results, none of which cite the book that he allegedly was reported as saying that.

Searching the MIT Internet Classics Archive for any references to the above quotation, and similar variations thereof, turned up no such reference.

When hearing any quotation, such as the one about private banks that is widely attributed to Thomas Jefferson, you should consider whether it is actually authentic.

There are many quotations widely attributed to prominent historical figures that are used to bolster the credibility of various claims, such as the alleged inferiority of fiat currencies. However, if the quotations are inauthentic, then the credibility of the claims based on them has to rest on other criteria.

See my article on the English tally sticks for an example of a successful fiat currency that lasted hundreds of years.

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