The Short, Unhappy Lives of Fiat Currencies



The average life expectancy of a fiat currency is only 27 years -- from Freedomain Radio, source available at http://www.fdrurl.com/fiatdeath

Comments

  1. "The most successful currency the British Pound has lost 99, something percent of its value" IN RELATION TO SILVER (which is another arbitrary measurement of wealth).

    But Silver has or may have lost a lot of its value in relation to, example, oil or other commodities. Oil was worth near nothing 200 years ago yet this isn't the case anymore.

    I believe mr Molyneux is making a mistake here.
  2. The golden rule wouldn't go much further and it would create the premises for an economic zero-sum game.

    I read somewhere that all the gold in the world can be contained in a 20X20X20 meter cube.
  3. 2:10What of the Swiss Franc? It's increasing in value
  4. Didn't know you had this video :D
  5. It's the fact most of them are debt based which causes this to happen. It is a very clever disguised form of slavery.
  6. That was when the dollar was not backed by gold anymore, but if you had a pound in 1970 would it be backed by gold? Or was it only backed by gold if you traded it for a dollar?
  7. august 15, 1971
  8. Since when was the sterling pound NOT BACKED by gold or silver anymore? Thank you if you respond!
  9. I'll ignore your comment, since it's just "information in some computer somewhere" ;)
  10. Only competitive currencies can build real wealth. Gold and silver coins, private banknotes representing them accompanied by a physical and electronic voucher system.
  11. Bitcoins? What a joke. Yes sheepole, go exchange your wealth for a information on some computer somewhere that says that you are rich.
  12. A promise for a certain amount? Based on the algorithm used in bitcoin, its a fact. Also, no one "owns" or controls bitcoins, so idiots, the public, ultra rich or the government can't get there hands on it to control it.
  13. Nothing.. There's a promise that only a certain amount will be released each year until something like 2140... But what these knucklehead idiots aren't predicting is nano computing and the general public's access to it before the ultra rich. It's funny to see people carry Bitcoin mining boxes to gatherings and explain the benefits of it all techy like. When confronted about future technology they clam up and move to ignorant suckers to continue to explain who cool Bitcoin is. [Snake Oil]
  14. Bitcoins are retarded and so are those who think it's anything. It's like comparing LEGO's architecture to those who use iron, steel & concrete. Let's get real, really fast.. SMH
  15. /waves hand "This is not the alternative currency you're looking for" Bitcoin is ridiculous to even begin to think of it as any kind of replacement to FIAT currency. Wake up you Libertarians. Your fiscal angst is causing mild to sever retardardation of your logic. Ya, let's replace FIAT with a currency who's sole control lies with one authority and is all digital.. BWWWAHAHAHA No, please you tech heads, explain to me all the nerdy shit and security you think are selling points. SMH!
  16. Nothing, its like saying whats gold backed up by? well bitcoins are kind of like 'digital gold'
  17. $ lol
  18. Same thing that backs gold: it's good monetary qualities. PS: value is subjective.
  19. what are bitcoins backed by?
  20. No, the people that control these currencies schemes, change it when they want. Why they do this, I have no idea, but they do....


Additional Information:

Visibility: 37891

Duration: 4m 52s

Rating: 620