Is the dollar on its way to being worth the same amount as toilet paper?

1971

In 1971, President Nixon took the United States off the gold standard – meaning the

dollar could no longer be converted to gold.

Since then, the world has operated under a system of money called fiat currency. The Dollar, Pound, Euro, and every currency in the world are all fiat.

Fiat currency is paper currency that a government has declared legal tender…

But can’t be redeemed for gold or silver.

Fiat money is essentially nothing more than a piece of paper worth something only because the government says it is.

Its only value comes from good faith by the people that use it - to accept it as payment.

The problem with a fiat system is that government is free to print as much money as they want…

Without the burden of finding gold to support the amount they are creating.

Thus, they can create billions out of thin air and pump it into circulation – making the

money already out there worth less and less.

History has taught us that no fiat currency lasts forever.  In fact, every currency since China experimented with

paper money in the 11th century has failed.

So why would it be different here in the United States? 

According to a study of 775 fiat currencies by DollarDaze.org, the average life expectancy for a fiat currency is 27 years. 599 of those are no longer in circulation. Some have taken only a month to crash. Others have taken centuries.

Here’s how those currencies died.

The two longest running currencies are British pound sterling (1694) and the US dollar (1792).

But since its inception, the British pound has lost 99.5% of its value. 

As for the U.S dollar, from 1971 to 2008, the amount of dollars in circulation increased by 17-times.

This  has  resulted  in  an  81%  fall  in  purchasing  power.  

The U.S. has all the characteristics of other currencies that have collapsed in history. Right now we are at war. And financing this expensive war results in monetary inflation.

The U.S. currently owes more than $15 trillion in debt.  Historically speaking, when a country has gotten itself

into huge debt, its answer has been to create more money. Perhaps the U.S. is headed toward complete failure like

the currencies before it. If so, what comes next?

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