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Tag Archives: fiat currency
Could Central Banks Dump Gold in Favor of Bitcoin?
Could Central Banks Dump Gold in Favor of Bitcoin? All of which brings us to the “crazy” idea of backing fiat currencies with cryptocurrencies, an idea I first floated back in 2013, long before the current crypto-craze emerged. Exhibit One: here’s your typical central bank, creating trillions of units of currency every year, backed by […]
The Virtual Economy Is The End Of Freedom
The Virtual Economy Is The End Of Freedom There is one simple rule to follow when understanding the tragic history of economies: Never put blind faith in a system built on an establishment-created foundation. You would think this would not be a difficult concept to grasp being that we have so many examples of controlled […]
Why the Dollar is not Fiat
Why the Dollar is not Fiat QUESTION: You have said that coins were still fiat and not tangible hard money. Nobody else has said that. Can you support that statement? DS ANSWER: Of course. During the American Colonial period, there was a shortage of silver in particular in Britain. The British imposed restrictions on what […]
Bitcoin vs Fiat Currency: Which Fails First?
Bitcoin vs Fiat Currency: Which Fails First? What if bitcoin is a reflection of trust in the future value of fiat currencies? I am struck by the mainstream confidence that bitcoin is a fraud/fad that will soon collapse, while central bank fiat currencies are presumed to be rock-solid and without risk. Those with supreme confidence […]
Cryptos May Destabilise Fiat
CRYPTOS MAY DESTABILISE FIAT The assumption in some quarters is that crypto-currencies will replace gold as money, or at least challenge it. This is an error borne out of a misunderstanding of catallactics, or the theory of exchange. It also ignores the fact that beyond a few European countries and North America, gold is firmly […]
Deutsche Asks A Stunning Question: “Is This The Beginning Of The End Of Fiat Money?”
Deutsche Asks A Stunning Question: “Is This The Beginning Of The End Of Fiat Money?” One month ago, Deutsche Bank’s unorthodox credit analyst, Jim Reid published a phenomenal report, one which just a few years ago would have been anathema, as it dealt with two formerly taboo topics: is a financial crisis coming (yes), and […]
Legal Tender Money v Fiat
Legal Tender Money v Fiat QUESTION: I wonder if you would care in a future blogpost to cast some light on the following? The sole ‘legal tender money’ in the final analysis is the FRN (Federal Reserve Note — coins aside) collateralized by the Fed’s assets.All other ‘money’ is private bank credit money or suchlike,including […]
Modi’s Demonetization Called “Colossal Failure That Ruined Economy” As India GDP Growth Slumps To 2-Year Lows
Modi’s Demonetization Called “Colossal Failure That Ruined Economy” As India GDP Growth Slumps To 2-Year Lows India’s embattled Prime Minister Narendra Modi faced a double whammy of abuse this week as his nation’s economic growth collapsed to its weakest since Q1 2014 and India’s Central Bank released a report on Modi’s extraordinary “demonitization” plan last […]
Is Gold Still Relevant?
Is Gold Still Relevant? QUESTION: Mr. Armstrong, Gold rallies with each political event and then falls back when the event is over. It is not in a sustainable relentless bull market as was the case in the 70s. Almost every stock market has outperformed gold since 1980. This has made me wonder if something is […]
Bitcoin vs Gold: Peter Schiff vs Max Keiser – Who is Right? Bitcoins the New Beaver Pelts?
Bitcoin vs Gold: Peter Schiff vs Max Keiser – Who is Right? Bitcoins the New Beaver Pelts? A major debate topic came up between Max Keiser and Peter Schiff at the Freedom Fest conference on July 19-22 in Las Vegas.: Bitcoin vs Gold. Max Keiser is a huge proponent of Bitcoin. Peter Schiff says “These digital […]
Debt-Based Money Corrodes Society
Debt-Based Money Corrodes Society We open today’s reckoning with a hypothesis: The current monetary system debauches the culture. Long-suffering readers are familiar with our… diminished regard for paper money. Paper money — or digital money nowadays — is the great bogeyman of the boom/bust cycle. It inflates bubbles of every model and make. Meanwhile, paper […]
Venezuela Stops Publishing Money Supply Data For Obvious Reasons
Venezuela Stops Publishing Money Supply Data For Obvious Reasons More than a year after hyperinflating banana republic Venezuela stopped reporting official inflation data, Venezuela has stopped publishing money supply data, depriving the general public of the last, and best, available tool to ascertain soaring inflation in what has become the world’s worst-performing economy. Then again, […]
