it has happen to all fiats before - e.g. - not to long ago to USSR, Zimbabwe, Argentina, Germany etc. btw. - Gold & Silver have replaced every fiat currency for the past 3000 years -
AFTER THE DOLLAR: WHAT COMES NEXT? THE SIMPLEST ANSWER IS OFTEN THE BEST;
As J.P. Morgan famously said to Congress in 1913, "gold is money and nothing else."
Morgan meant that gold was unmatched in its effectiveness as a store of value and medium of exchange.
Given that his namesake bank started accepting physical gold bullion this past February as counterparty collateral, why should the trend of a widespread return to gold be considered only a remote possibility? On the contrary, it should be expected - if for no other reason than every other currency is fundamentally dismal.
Markets are powerful things, and require a reliable medium of exchange.
The call for sound money is not just philosophical; it is derived from the market itself.
Throughout human history, merchants have always turned to pure gold and silver over every pretender.
This is not the first experiment in a paper money system, nor is it the first widespread debasement of money.
In fact, the lessons of history were impressed upon our well-read
Founding Fathers to the point that they included the following clear language in the Constitution:
"No state shall... make any Thing but gold and silver Coin
a Tender in Payment of Debts."
While it has always been possible that another fiat currency would rise up to take the dollar's place, and thereby keep this irrational experiment in valueless currency going awhile longer, the particular circumstances that abound today make it seem less and less likely to me.
NOTE, I'm seeing signs that the world is moving back to gold and silver at a breakneck speed -
This is a return to normal and has many positive implications for the global economy -
It's certainly a trend we can all welcome, and profit from. :-)
Fast down - fast UP :-) ST - short term banksters manipulations - mirror reflextions :-) often makes great - bargain opportunities :-)
Silver 2nd LT wave bull started :-) the LT long term trend is my friend :-)
Great Panther Silver, Ltd. (GPL:AMEX - TSE:GPR :-)
Featured is the daily silver chart. The green arrow accentuates the rising trend. The RSI and MACD are turning positive from oversold levels (green lines).
The important thing is to study the fundamentals, keep your eye on your end goal, and avoid being influenced by the 'top pickers'.