[xanaxist]

but they still had money which was backed up with gold and silver in those days right?

I'm not sure.

i dont know much about fiat currency but i am beginning to think that its because the governments are controlled by or serve the elite bankers and corporations. in other words the governments are just a front for the elite to hide behind and conduct their business of interest.

exactly.

is that even legal seeing as they are a private company and must be accountable to the law of the land?

Who knows? Legal, illegal, doesn't matter when you are above the law.

this is clear oppression and tyrany.

yep.

why would the elite bank and the fed care about receiving money in the form of interest when they literally have a licence to print money whenever they want? maybe it is not about money at all but about control.

So they can continue the charade. Where do you think the government gets the money to pay that interest? They borrow it....by selling more government bonds. It's an endless cycle. As long as banks are given the ability to create money, they have power over everyone else. The problem is, they've wrapped up the financial system in such obscure processes and "tools", and couched it in such confusing jargon, that most people can't see through the bullsh*t or won't even try.

The point is, anybody who understands how ludicrous the system is, is either in on the scam, too stupid to understand or care, or knows what's happening, but powerless to do anything about it.

To go back to your original point, I don't see why a fiat currency issued by a government with a fixed value, even if backed by nothing, would not be acceptable in shariah. There could be reasons I don't know. Of course, the sunnah is gold and silver. The benefits of using precious metals are:

they have intrinsic value because they are: accepted by all people in all times, and have practical applications.

they are malleable.

do not rust.

cannot be counterfeited.

they are pure elements, meaning all samples of the pure element are exactly the same, all the way down to the atomic level. this is a good argument against people who say gold standard is unrealistic because there isn't enough gold to go around. so what if the amount of gold is limited? just let the value of gold appreciate. if a government chooses to issue currency fully backed by the amount of gold in the treasury, it can issue notes for gold down to increments of atoms, if necessary (and that's an extreme case).

But yes, today's fiat currencies are all plagued by riba. This I believe is the fulfillment of the hadith in which the Prophet mentions that a time would come when no one would be able to escape being touched by riba.