After Fiat Fails, What Happens Next?
After Fiat Fails, What Happens Next?
Heresy Financial: 1-15-2023
Is there any validity to the claims that the current fiat monetary system is doomed to fail? Or are we destined to live with this for the rest of our lives?
Well, most people are unaware that this current system where we have fiat currencies all around the world has only existed for about 50 years since Nixon closed the gold window in 1971.
Prior to that, there was always some sort of gold standard somewhere in the world. But even though there is at least a gold exchange standard or a gold standard somewhere in the world, that did not mean governments did not try and move towards fiat so that they could exercise more control over their financial system.
This control inevitably led to the overprinting of their money that was supposed to be backed up by gold. They ended up hyperinflating their currencies. Their currencies lost purchasing power, and they had a monetary reset.
And so, I would like to show you how we are going through a similar system change right now, what it will look like as we shift into a new monetary system, and what that future monetary system might look like.
Timecodes
0:00 Video Introduction
1:08 Central Banks Trying to Fix the Inflation Problem
5:06 Types of Money
8:05 Failure of Fiat System Today
12:00 Commodity Money
12:57 Public Ledger
14:36 What Will the Next Monetary System Be