- The world stands on the threshold of monetary hyperinflation with the US dollar leading the way. The final months of fiat money are coming into view.
- The final solution is bound to be with central banks and government treasury departments retaining their control as issuers of money by the only means at their disposal: deploying their gold reserves to back their currencies, not as fiat but as credible gold substitutes.
- The eventual replacement for fiat money needs to be beyond government control and flexible enough for its users to collectively set the quantity that acts as money. A formulaic medium such as bitcoin does not provide this flexibility, but gold clearly does and has proved its suitability in the past.
For further details see:
The Psychology Of Money