Fiat currencies need to be backed by something. Maybe a certain percentage of gold? Maybe another standard...There has to be something to keep gov'ts from inflating and diluting non-stop.
In 1951 someone may have put away $4k(average yearly income), might be worth $10k now which is absolutely peanuts. Imagine you banked your $60k salary(not sure what you make) this year and in 50 years it might be worth $150k but in 2061 people are probably making $500k per year average....peanuts
Printing money is a quick fix but destroys long term wealth. We need a fix, not just in the US but globally. Gold may be the answer, and it may not be...but I think it will get a lot of attention over the next few years
--------------------------------------The I-Hubber Playbook--------------------------------------
