World Fiat Money System is Bankrupt: Demise of the Global US Fiat Dollar Reserve Currency

The world was conned into accepting the biggest Ponzi scheme in the history of banking and finance - the US$ Global Reserve Currency Ponzi Scheme.


Comment: Up until 1971 when Nixon closed the gold window, trade imbalance with the US was settled in gold. Since that time it has been settled in paper (a Paper-Ponzi indeed).


This scheme was created on a sand castle of debt, specifically US Treasury Bonds. The world does not need a Global Reserve Currency. Global trade can be conducted in any currency in accordance to the needs and resources of a country.

http://www.sott.net/article/268321-World-Fiat-Money-System-is-Bankrupt-Demise-of-the-Global-US-Fiat-Dollar-Reserve-Currency

Correction, the Fiat Money system is not bankrupt (unless you are speaking morally), it is the countries that are bankrupt, but fraudulently operating in receivership that is the problem.

Strictly speaking, a credit-based public fiat currency like Lincoln's Greenback is just fine; better than Gold in fact. The debt-based private currencies of private banks like the Fed are just a recipe for disaster. If anyone doubts me, just look at the US economy after 100 years of usurious Fed robbery of the American people.