Real Money | Why Our Fiat Currency System is Ending
On September 25, 2023
For over half a century, our global financial system has relied on fiat currencies, with the US dollar as its centerpiece. However, there is growing evidence that this era of fiat currency is coming to an end. A return to Real Money is the obvious solution.
The debasement of these currencies by governments has become increasingly apparent, leading to a loss of faith in their value.
The future replacement for fiat currencies may lie in a system that respects the legal and historical foundations of money, and ensures stability, trust, and a clear distinction between money and credit (debt).
This is what Our GCR is all about!Awake-In-3D
This loss of faith, combined with the impracticality and limitations of central bank digital currencies (CBDCs), suggests that a new monetary system will soon replace the old.
Throughout history, fiat currencies have ultimately failed. The state theory of money, which underpins these currencies, has proven unsustainable.
Governments have continually abused their power to manipulate and devalue their own currencies.
This pattern has repeated itself time and time again, eroding trust in fiat money. The introduction of CBDCs, proposed as a response to the threat posed by private sector money, is yet another attempt to preserve the failing system.
However, the impracticalities involved in implementing CBDCs, as well as the resistance from existing banking interests, make their success doubtful.
Why Real Money Has No Price
To understand the shortcomings of our current monetary system, it is essential to grasp the true nature of money.
Money serves as a neutral medium of exchange, adjusting the ratios of goods and services.
Contrary to popular belief, money itself does not have a price. Instead, it facilitates the division of labor and represents unspent labor or credit, yet to be used. This understanding of money as unspent labor is crucial in comprehending its value.
Throughout history, real money, such as gold and silver, has derived its value from its transferability and its ability to be exchanged for goods and services.
Real money, unlike fiat currencies, has a clear distinction from credit. It is permanent and free from counterparty risk, whereas credit is temporary and carries inherent risks. The detachment of credit from real money can lead to instability and currency debasement.
Why Cryptocurrencies are Not the Solution as a Fiat System Replacement
While the cryptocurrency revolution has brought attention to the potential transformation of property ownership and highlighted the problems with fiat currencies, it is not the solution to replace real money.
Cryptocurrencies, like bitcoin, may have gained popularity and attracted speculation, but they fall short in fulfilling the role of a currency.
Cryptocurrencies lack the necessary qualities that real money possesses. They are volatile, lacking stability and trust. Additionally, they are not backed by anything tangible or linked to the real economy.
The detachment of cryptocurrencies from the legal and historical foundations of money further undermines their suitability as a replacement for real money.
The Bottom Line
In our RV/GCR journey to a new monetary system, it is crucial to recognize the limitations of cryptocurrencies. While they have their merits, they are not a viable alternative to real money.
The future replacement for fiat currencies may lie in a system that respects the legal and historical foundations of money, and ensures stability, trust, and a clear distinction between money and credit. This is what Our GCR is all about!
As we witness the decline of global fiat currencies, it is essential to learn from history and understand the role of real money for a more sustainable and reliable monetary system.
By understanding the true nature of money, its role as a medium of exchange, and the shortcomings of cryptocurrencies, we can navigate the path towards a more stable and equitable financial future.
It is time to reassess our assumptions, challenge the status quo, and work towards a monetary system that upholds the principles of sound money and economic stability.
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