Our intrepid pair discuss how fiat currencies might be replaced and with what
For more see http://constitution.org
Comments
You're forgetting that oil is being used up at a ridiculous rate...and the fact is that it will run out within several decades. Gold will not run out and be used up under any circumstance since it is not molecules, but an atom that cannot be degraded or destroyed. Although silver does get used up, it can be recovered since it is an atom as well.
GREAT vid. Thank you. Steve.
Excellent video! Splendid!
You could use a total commodity backed currency.
munkyusm, you aren't paying attention. The entire conversation was about alternative currencies, digital certificates issued by anyone, not just governments. Government does have to define what is legal tender, because if someone gets a judgment in court there has to be a standard for what pays the judgment. Check the laws of your state. For example, in Texas there is no law that defines what legal tender is. Plenty of references to it, but no definition.
This is very informative...I would however suggest that you look into the idea of competing currencies. You are still using keynesian economic principles in which there's still a central planner controlling the money. Competing currencies is the key.