/biz/ - Business & Finance

>>58040627
I agree. But America is not the only player in the global game. America grew incredibly wealthy in part because its status as issuer of the world's reserve currency allowed it to export massive amounts of inflation. That is the envy of every politician in the world.

When the dollar falters, the rest of the world is not going to sit around and wait for America to issue a replacement. There will be a rush to fill the vacuum. But whoever wants to emerge as the issuer of the new global currency will need to garner trust. That trust obviously is not going to come from the existing reputation for integrity of any of the gang of scoundrels running the world's governments. So trustworthiness will need to be inherent in the new currency itself. That means it will need to be backed with a real asset in a transparent, reliable, decentralized way. I think that points very strongly to a currency redeemable in PMs.