The Biggest Game of Pretend
It’s been a minute since I’ve made a post. However, I decided to bless my followers today with some financial game about the current happenings in many of today’s countries. I’ve spoken at length on the current situation of America’s currency. So, all of my readers should know that we’re on fiat currency; in laymen’s terms, our money consists of promissory notes. However, these promissory notes accrue debt.
Moreover, the debt must eventually be paid. However, despite this, America has boasted about going through its longest stint of growth historically. This is amazing. This means that despite the considerable debt that America is in, our political leaders have managed to convince other countries to continue accepting our fiat currency. However, this brings about the question, what happens when creditors come to collect? Everything falls down. Countries that have accepted vast quantities of fiat currency bankrupt their economy too.
We see this happening globally to countries that have adopted a fiat currency financial system. Their countries are struggling financially. This is why today’s global economy mirrors this episode of “Ed, Edd, and Eddy.”
By the way, I’m not saying that fiat currency itself is a bad thing. It’s the exaggerated promises being made supporting the money that’s bad. Fiat currency shouldn’t exceed its gold reserves.
Moreover, the debt must eventually be paid. However, despite this, America has boasted about going through its longest stint of growth historically. This is amazing. This means that despite the considerable debt that America is in, our political leaders have managed to convince other countries to continue accepting our fiat currency. However, this brings about the question, what happens when creditors come to collect? Everything falls down. Countries that have accepted vast quantities of fiat currency bankrupt their economy too.
Check out more videos from the Money GPS here.
The episode is They Call Him Mr. Ed.
By the way, I’m not saying that fiat currency itself is a bad thing. It’s the exaggerated promises being made supporting the money that’s bad. Fiat currency shouldn’t exceed its gold reserves.
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