| All modern currencies are fiat. The numeraire of the moment floats in a cesspool of policy designed for management and intervention. Money and value become hollowed out concepts. The eventual return to a sound relationship between human productivity and the value of money will be unloved, to say the least.
In the geopolitical front now we are witnessing countries move away from the U.S. Dollar, like Russia (and China more recently). But we are seeing an aggressive attempt to maintain its influence - often appearing to dovetail with other geopolitical motives...............................................Full Article: Source
|