Post
Topic
Board Economics
Re: Fiat Currency Always Fails
by
South Park
on 06/09/2018, 17:48:01 UTC
See:

There Is No Escaping History.  Fiat Currency Eventually Fails.

Notice that this is a critique of fiat money -- not a critique of state-issued money under a gold/silver or other standard.  Fiat money is a rare occurrence in modern history.  (We live in strange times!)  As we can see, the examples found by the author are a small number of short periods here and there.

I have my own critique of gold/silver standards, but that's another issue.
This is true but the big problem here is not that fiat currency fails but the terrible effects it has in the economy in general and in the economy of each person, when the fiat currency fails it tends to sink the country and everyone becomes poorer because of it and then you need to trust that the government is going to finally get it right when they issue a new currency.