4T? What 4T?

[pbrower2a]

(05-21-2016, 08:38 PM)Kinser79 Wrote:

(05-21-2016, 08:11 PM)pbrower2a Wrote:

(05-21-2016, 08:24 AM)Galen Wrote:

(05-21-2016, 06:23 AM)pbrower2a Wrote: Yeah, sure. For the last fifty years or more the American economy has been on the brink of collapse unless it returned to the Gold Standard and the economic norms of the 1920s or earlier. How has that prophecy worked?

You have linear expectations in a non-linear world.  What the consequences of a fiat monetary system are really not in question, only the timing is.

You missed the irony.

Probably because you've confused irony with idiocy.  Every fiat currency has ultimately failed.

...which is like saying that every person eventually dies, so why struggle?

Plenty of reasons exist for fiat currencies to fail. After a military disaster that ends with an unconditional surrender or a hostile takeover by another country, the old money either becomes worthless or is allowed to be exchanged only at extremely-disadvantageous terms. Any country is likely to face a catastrophic defeat, be taken over by a  neighbor that treats the people of the occupied country badly... with the first step a severe devaluation of the currency.



By 1944 this note could not buy a book of matches. When Douglas MacArthur returned as he promised, this 'funny money' was void. Unlike Confederate currency it does not even have numismatic value.

US currency has had some of its value gutted due to inflation, but slowly enough that people have never been obliged to hoard goods as a hedge against inflation.