Monday, July 27, 2009

Back to representative currency?

Read this interesting post on a possible anti-fiat currency wave.
Something has to give and will give soon. There is not that much we can do to hedge ourselves except to hold our cash in a few currencies and retain something else that would appreciate against all of them when they begin to engage in competitive devaluations. Regardless of all the arguments touted against gold, it is the anti-fiat money, just as the euro is the anti-dollar.

Will we go back to gold though? Post Bretton Woods collapse the money supply has grown exponentially. Do we have enough gold to go back to?

There are some answers. This video has some suggestions towards the end as to what will be a viable way to go forward. With $13 trillion in debt as of this writing, Ron Paul says it best, fiat money is destroying the US dominance. The rest of the world will move away if it doesnt get its act together.

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