In this video, I discuss why fiat currencies always fail.
Comments
Nah, have to disagree with you. America has centuries left to go. There is a reason that there are countries that do not bother to print their own currency. They use US Dollars for a reason....
Expert Mike Maloney says in one of his videos that there's actually only .06 cents for every dollar. In other words, if everybody wanted to get their money out of the bank at the same time, the bank would only be able to give people 6 pennies for every ONE HUNDRED dollars they had in the bank. So people would get much less than 1/10 of one percent of their money back.
The Dollar isn't going anywhere any time soon. Of course it will fail at some point, history tells us that. But If there is one thing the U.S. government is good at, it is kicking the can down the road. Foreign governments still snap up our bonds an Treasury bills as fast as they can get their hands on them. As long as that continues, our fiat will remain the world's #1 currency.
nice vid
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