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Alasdair Macleod: Hedging the end of fiat
By Alasdair Macleod
GoldMoney, Toronto
Monday, August 28, 2023
It is slowly coming clear that the fiat dollar's hegemony is drawing to a close. That's what the BRICS summit in Johannesburg is all about -- rats, if you like, deserting the dollar's ship. With the dollar's backing being no more than a precarious faith in it, it is bound to be sold down by foreign holders.
Being only fiat, it could even become valueless, threatening to take down the other Western alliance fiat currencies as well.
How do you protect your paper wealth from this outcome? Some swear by bitcoin and others by gold.
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This article looks at what is likely to emerge as a replacement currency system, and concludes that from practical and legal aspects, bitcoin and the entire cryptocurrency industry will fail with fiat, while mankind will return to gold, as it has always done in the past when state control over currency fails. ...
... For the remainder of the analysis:
https://www.goldmoney.com/research/hedging-the-end-of-fiat?gmrefcode=gata
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