Fiat Dollar Crash Coming to America in 2022?
A Brief Chronology of the US dollar
The coming fiat dollar crash from this author’s viewpoint. I have been around for a long time so whether you wish to listen to my financial stance or not, you may at least be interested in the chronology of how personal finance has devolved over the last half century. The US dollar was backed by gold until Nixon removed it and now we operate with nothing backing our currency. Unbacked currency is referred to as “fiat” currency”. Webster definition of fiat:
Definition of fiat
1: an authoritative or arbitrary order : DECREEgovernment by fiat
2: an authoritative determination: DICTATEa fiat of conscience
3: a command or act of will that creates something without or as if without further effort. According to the Bible, the world was created by fiat.
My definition comes from the Dire Straits band lyric – Money for nothin’ and your chicks for free. Politicians must live by this credo! Print more money dammit, it’s just paper!
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