Quote from: murraypaul on August 27, 2014, 12:39:09 PM

Quote from: qwerty555 on August 27, 2014, 12:16:58 PM

Quote from: murraypaul on August 27, 2014, 10:34:48 AM

Quote from: Rassah on August 25, 2014, 02:34:55 PM

It's really just a simple waiting game. There is a strong need for a world reserve currency (currently filled by USD, and somewhat my EUR). Fiat currencies have a 100% failure rate

No they don't.
There are many many fiat currencies currently in existence, and those haven't failed.
Your statement boils down to "Fiat currencies that have failed have a 100% failure rate", which is content-free.
On the same basis:
"Democracies have a 100% failure rate"
"Countries beginning with M have a 100% failure rate"

Regretfully yes they do eventually fail.

That same applies to "Democracies have a 100% failure rate"

And to take your source:

Quote

Twenty percent failed through hyperinflation, 21% were destroyed by war, 12% destroyed by independence, 24% were monetarily reformed, and 23% are still in circulation approaching one of the other outcomes.

War and independence are not failures of a currency, but of a state. (Even if you consider Independence to be a failure?)
So 12+24+23 = 59% of fiat currencies did not fail due to their 'fiat-ness', according to your own source.
And does the 24% include, for example, the currencies that were abolished to form the Euro? Did the Deutschmark really 'fail'?

In fact, as I don't think their are any non-fiat currencies left (?), a more accurate statement would be that "100% of non-fiat currencies fail", surely?

That point was...... that the currency was DESTROYED .....because of war and /or independence. . You are also correct that 100% of non fiat currencies also fail/get destroyed or are monetarily reformed ( and disappear) ..so that leaves us with ALL currencies Die..which they do!

re Deutschmark euro...all fiats DIE not fail......(although the act of dying could be considered a failure)

failure was referring to Every 30-40 years the Reigning Monetary System Fails and has to be retooled