Fiat is dying
Forget all the sudden expert analyses pushed out by those who don’t understand credit. Note just one fact: fiat currencies are at end-of-life
Subscribers to MacleodFinance send me articles by other commentators asking for my opinion on them. I don’t read them, because experience tells me that even though they often have merit, they miss the main point: fiat currencies are running out of credibility. And all the rest — CBDCs, tokenisation, crypto-technology etcetera is just noise.
When a fiat currency dies, its value goes to zero, period. All that’s left to decide is whether the political class wakes up and has the popular mandate to secure what remains of its value.. And here we must acknowledge that politics is in the driving seat, not economic reason or otherwise.
Graphically, this is what happens:
