[quote]Big Banana wrote:
I would prefer hard currencies but I fear an international fiat currency is far more likely.
Obviously the best way to avoid this is to have a stable dollar.
I think the likelihood of getting a gold backed dollar is between slim and none but I hope that there is a chance that we can have a sound fiat dollar for decades to come if we fix our monetary policy.
I want to fight the battles we can win. We may be able to win on stabilizing the fiat dollar.
[/quote]
I agree on the likelihood of an international fiat currency. If not that, then probably another nation’s currency would take reserve status?
However the best monetary system in my mind would be a free market in money. Money should be denationalized, and the power to control the money supply should be taken out of government control. Gold and silver would “emerge” on the market of course, since they are the most desirable commodities for exchange. But the point is that people should have the freedom and the CHOICE to use what they want as money. This would create an environment for a stable monetary system.
[quote]fcrenshaw wrote:
[quote]Big Banana wrote:
I would prefer hard currencies but I fear an international fiat currency is far more likely.
Obviously the best way to avoid this is to have a stable dollar.
I think the likelihood of getting a gold backed dollar is between slim and none but I hope that there is a chance that we can have a sound fiat dollar for decades to come if we fix our monetary policy.
I want to fight the battles we can win. We may be able to win on stabilizing the fiat dollar.
[/quote]
I agree on the likelihood of an international fiat currency. If not that, then probably another nation’s currency would take reserve status?
However the best monetary system in my mind would be a free market in money. Money should be denationalized, and the power to control the money supply should be taken out of government control. Gold and silver would “emerge” on the market of course, since they are the most desirable commodities for exchange. But the point is that people should have the freedom and the CHOICE to use what they want as money. This would create an environment for a stable monetary system.[/quote]
That would be best for people, not governments. It is a nice thought.
But aren’t governments made up of people?