Posted by RodInNS on March 31, 2014 at 10:11:30 from (216.118.158.123):
In Reply to: Re: OT--GOLD Investment? posted by Traditional Farmer on March 31, 2014 at 09:14:54:
I disagree absolutely with the assertion that any fiat currency will necessarily become worthless. You have situations like Zimbabwe where you have a whack job in control who is completely destroying the economy of the nation and robbing what he can for himself... and in that case the value of the currency has gone to nothing. To suggest that we are there or anywhere near that situation in the developed world is simply foolish.
Instead of asking why Fiat currencies fail mabey you should ask yourselves why we continuously RETURN TO Fiat currencies after every adventure with gold? Probably has a lot to do with the simple convenience of using paper vs trying to weight out gold on the spot to facilitate trade... In my view there is just about zero chance of us ever moving away from some form of Fiat currency and with the change that's taking place in the world these days... the likelihood is all that much greater that we will only enhance that. If it comes to the stage where that won't work, you're going to require a lot more guns and lead shot that you're going to require of gold.
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