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Strategies & Market Trends : The Art of Investing -- Ignore unavailable to you. Want to Upgrade?

To: Hank Scorpio who wrote (6095)	12/21/2022 4:46:50 PM
From: Sun Tzu	Read Replies (1) \| Respond to of 10599

I am not against having fiat currencies. In fact long time readers know that I have often highlighted what a nightmare the gold system was. It's just that nobody alive really remembers the true gold system. What I am arguing against is a fiat currency that is not rules based. As it stands, governments can print money pretty much as they please. And in the case of the US, the currency is weaponized for political objectives to the determent of its owners. What I want is a stablecoin that is pegged to a trade weighted basket of commodities and currencies. Being trade weighted, it will have a self-regulatory feedback system that grows and contracts according to the importance of each currency or commodity. As an aside, I am not sure that a country is a better backer of a fiat currency than a corporation or a conglomerate. Yes, major countries such as the US or the UK do an ok job of that. But the majority of governments suck at it. As yourself, would you prefer to own a currency that is managed by Argentine, Turkey, Greece, or even Italy - or would you prefer one that is managed by and accepted at Amazon, Walmart, Alibaba, Meli, and a few others?