Why Fiat Currencies Always Fail



Before a nation can have a sound economy, it must first have a sound monetary system. Unfortunately, in today's world, there is not a single government that has a commodity based currency; every world currency qualifies as a fiat system. In the history of the world, every fiat currency eventually has failed. In this video, I talk about why that is the case, and how we can see this playing itself out right now in the current fiat systems. Dollar purchasing power lost since 1913: 92% Dollar purchasing power lost since 1971: 83% Enjoy my videos? Donate in Bitcoin: 1P94S6U6Upob4gjH1HwfnNcYqGmW2gUbr1 Support my channel on Patreon: https://www.patreon.com/silverfortune

Comments

  1. What we need is a method to exchange gold and silver with bitcoin quickly and easily. Gold and silver are the store of value, bitcoin is the means of transaction. Bitcoin should also have a much more stable price once we do away with fiat currencies so it can serve that purpose well.
  2. I agree with this article ,that fiat money fails every time. Please excuse my spelling and typing as been on morphine based medications since 1999 when a drunk man driving let go of his steering wheel trying to light a smoke and that was third time my spine was next to destroyed and I got back up an went back to work until 2007 breaking it 5th time and while working.I do glass etchings using variable speed xremel with diamond bits now days for entertainment and sell .
  3. they fail because those in charge of them try to squeeze blood out of stone and invariably mismanage them so badly it all falls apart.
  4. A few months before Libya been invaded, Kadaffi wanted to issue a currency backed by gold. He actually discuss it on African or Arab conference. He had already the plans, he was gathering support.
  5. I think we will never see a silver/gold backed currencie. If 1 country would pull it of, they would probably only accept gold/silver backed currencies from other country when exporting goods and Services. When those countries dont have gold or silver or dont want to pay with it, they wil not do business with that country. The other way around when importing goods and Services everybody wants their gold backed money (good money drives out bad money). I think it must be Global to work, but then there is to little precious metal to have a good working system. Isnt there only about 1 ounce of silver for everyone on earth when equaly devided?
  6. Fiat currencies eventually make excellent kindling.
  7. ART 1 SECTION 10 OF THE CONSTITUTION ONLY GOLD AND SILVER COIN CAN BE MADE LEGAL TENDER.  COUNTERFIAT IS TREASON. = SILVER AND GOLD ARE THE MONEY OF FREE PEOPLE . PAPER IS THE MONEY OF SLAVES.


Additional Information:

Visibility: 1055

Duration: 19m 31s

Rating: 32