What is a Fiat Currency?

A fiat currency simply means a currency that is not truly backed by anything tangible like gold or silver. Instead its value rests on the confidence that the citizenry of that country places in its. In other words, a fiat currency is a piece of paper with a number and two signatures. The faith of the people give it its real value. Although declared by local government to be “legal tender”, this fiat bank note is what we must use under the law for a medium of payment.

http://www.economicreason.com/usdollarcollapse/is-the-canadian-dollar-backed-by-gold/

http://www.youtube.com/watch?v=JqGZdES2DPw

Question:

Would it be feasible for the Fed. Gov’t of Canada, & for that matter, all the Provinces could participate, for a % investment up front & get a discounted gold price out of the ROF to build up a gold reserve to back the Canadian dollar?

Any thoughts

Hebe