Home > Miscellaneous Musings > Fiat money is counterfeit money

Fiat money is counterfeit money

Throughout history, there have been charlatans who have advocated the “scientification” of paper money, of the need to unshackle the people from the “cross of gold”, from the lack of money.

But money has an absolutely essential accounting function – showing where demand for resources should go.  Corrupt that fundamental market function, and you are flying blind, bumping into disaster after disaster as resources are misallocated and people collect into unsustainable Ponzi-scheme scams.

Check out how the fiat money cranks won the day, and look where we are now.  Do you think we’re better off with paper than we were 100 years ago with gold?

Categories: Miscellaneous Musings
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