Truemors
Dream on untill you're out of pocket with only a garage full of dollars !
This fait money you talk of is as old as China and never ever brought anyone in its history from the Byzantine era any financial stablility for any length of time.
After the 2nd world war America was richer than any other country. Then came Vietnam, and the money was squandered so much so that by 1972, it "demonetized gold and silver" also accellerated by the petroleum crisis at the time. In real terms it debased the paper dollar.
There wasn't enough gold any more to cover the debt and it unilaterilly broke its promise to the americans and others to pay in kind its true value, 1 onze of gold for every 35 US dollar. And said why not treat the dollar, like butter or any other commodity, and regulate its demand and supply by an index called M1. Subsequently M2 and M3 arrived, maybe a couple more indexes have been created through "funny" accounting practices I don't know about ?
The American government went to war on gold to support its fait dollar and recklessly said it would sell its massive gold stock, many European countries rapidly bought the gold to support their own fait currencies. America soon stopped selling its gold stock.
After some 30 years america has hugh debt and climbing and as history shows when the currency becomes threatened the military enters to support the currency, so pray americans win the war over the oil fields, or those with debt will face the rioters.
Everyone knows gold and butter require real value to produce - labour, materials and money- you know basic economic theory ! No fait money has ever lasted more than 60 years.
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