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Fiat currency - is it doomed to failure?

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    Fiat currency - is it doomed to failure?

    Can't be the only one observing the failing of fiat money from emerging economies. Venezuela, Turkey, Argentina, South Africa, whose next?!

    Brazil will be next me thinks

    I imagine UAE is on the list for picking, stories coming out of Dubai just don't stop: Dubai Builder Sees Property Slump Lasting for Years

    Perhaps China in the coming months and then the US
    Last edited by scooterscot; 5 September 2018, 07:22.
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

    #2
    Betteridge's law of headlines - Wikipedia

    Comment


      #3
      What's the fix? Lemme guess.. Crypto?
      'CUK forum personality of 2011 - Winner - Yes really!!!!

      Comment


        #4
        Originally posted by scooterscot View Post
        Can't be the only one observing the failing of fiat currency from emerging economies. Venezuela, Turkey, Argentina, South Africa, whose next?!

        Brazil will be next me thinks

        I imagine UAE is on the list for picking, stories coming out of Dubai just don't stop: Dubai Builder Sees Property Slump Lasting for Years

        Perhaps China in the coming months and then the US
        Read this:

        https://www.bullionvault.com/gold-ne...polo_072120083

        China has a long history of misusing paper money. It's not the system that's the problem, it's the thieving governments and their corruption that's the problem.

        Comment


          #5
          Originally posted by northernladuk View Post
          What's the fix? Lemme guess.. Crypto?
          Yep. Be ready for scooter's ICO....coming soon....!

          Comment


            #6
            "Fiat currency" is EUR and USD - proper reserve currencies, everything else is a variable.

            HTH

            Comment


              #7
              Originally posted by scooterscot View Post
              Can't be the only one observing the failing of fiat currency from emerging economies. Venezuela, Turkey, Argentina, South Africa, whose next?!

              Brazil will be next me thinks

              I imagine UAE is on the list for picking, stories coming out of Dubai just don't stop: Dubai Builder Sees Property Slump Lasting for Years

              Perhaps China in the coming months and then the US
              Upon seeing any question with the words "currency" and "Venezuela" in it, you really do have to question the sanity of the person asking the question. In this case, it's Scooty, so we already know the answer...
              His heart is in the right place - shame we can't say the same about his brain...

              Comment


                #8
                Originally posted by AtW View Post
                "Fiat currency" is EUR and USD - proper reserve currencies, everything else is a variable.

                HTH
                I thought it was what you used in the canteen at the big factory in Turin.

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                  #9
                  The US will prevent any other currency becoming strong enough to challenge it as the global currency, until something is good enough and trusted enough to become a gold-backed currency. Which means the USD is safe for a long time to come yet. Sorry scoots.
                  The greatest trick the devil ever pulled was convincing the world that he didn't exist

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                    #10
                    Originally posted by LondonManc View Post
                    The US will prevent any other currency becoming strong enough to challenge it as the global currency, until something is good enough and trusted enough to become a gold-backed currency. Which means the USD is safe for a long time to come yet. Sorry scoots.
                    I'm not so sure. I think the US dollar will divide into various forms of US dollar between the states. Like New York state dollar, Californian dollar etc. But only four or five states, the rest will be stuck with a deprecating original dollar.
                    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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