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The Fiat Money System Is Failing

By: Steve Johnson

2/4/2009 - 69 Comments

Since the dollar was removed from the gold standard in 1971, the world financial system has been based on confidence, while governments have done all they can to compete in who can destroy their currency faster.

Much of the currencies of the world are based on dollars, which is based on shear confidence in the US government to maintain sound money practices. 

The fiat money system is a system of paper money that can become a system of virtual money that can be very easily manipulated by simply adding a few zeros on a computer screen and walla – we have more money!

The Recession is the Cure

The reality is that governments are competing with each other for geopolitical power by manipulating their currencies to gain or maintain influence, because it’s a lot easier then hard work and increasing savings.

The global recession has put even more pressure on government to restore the people to prosperity – no matter what they have to do.  The real cure is a recession, but nobody wants to swallow that pill.  The recession is the cure that is taring down the false promises of a free lunch and rebuilding the ambitions of the people to seek out hard work and increasing their savings. 

The US government is in an epic battle against its own economy, which is trying to do the right thing.  The governments of the world have been able to artificially grow the wealth of everyone over the last several decades with the fiat money system.  But, those days seem to be numbered. 

It is time to deal with the political reality that no one in Washington (except for Ron Paul) is even interested in talking about a real and lasting solution – which is to restore sound money

Yet the problems of the fiat money system grows with each day they put it off and this fact is becoming more undeniably obvious to everyone with each round of economic bad news and each round of stimulus that has no effect other than to deepen our circumstances.

Get Out of the Way

As the next few years unfold, it will become harder and harder to deny that the underlying problems with the global fiat money system – and a replacement will be the only option.  When the fiat system completely fails, it will be like a tall tree falling and the best thing you can do it get out of the way. 

The replacement will have to be based on something other than any compromising government’s monetary policy.  The replacement will need to be based on something that is impossible for any government or political leader anywhere in the world to change.  Historically, other than the last 40 years, that something has been gold. 

The tall tree is starting to wobble.  It’s high time to get out of the way.

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