IOU nothing money
n.— «They’re trying now to establish a single currency in Europe. I don’t mind that so much, if Europe wants it, but this present world-wide fiat paper money—what I call “IOU nothing” money—is going to break down. We’re headed for the worst economic catastrophe in all of history. Obviously the best one- world money would be gold, the good old gold standard, but that is a pipe dream now.» —“Simplex Munditiis” by John Exter Lank Business Online (Sri Lanka) Oct. 4, 2006. (source: Double-Tongued Dictionary)
Further reading
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