ijatz_La_Hojita@[email protected] @cjd True. I guess that what cjd is referring to is that a fiat currency backed by tangible assets (trust or faith not belonging to that category), like the US dollar was until 1971, carries a physical, thus political, limitation to war budgets, and requires from governments to determine clear and visible priorities, whereas right now they only create debt-money. So the "reality margin call" can have one impact only: to shatter the dollar, as the tool for that fiction.
@cjd @[email protected] Correct. Although the #Bretton Woods standard would still be way better than today's "open bar policies". It was what allowed De #Gaulle to withdraw France's gold reserves from the Fed's hands, and to regain financial stability.
Do you know if the #BRICS have chosen to print a 1914 or 1971 standard-like currency? I've heard that new #currency will be convertible to gold.