Mike Maloney – Why I’m Concerned AND AMAZED For US Dollar Reserve Status – Why I’m not surprised the world prefers Fiat over a Gold Standard! – April 7, 2019,

I have a problem with people who believe in a Gold Standard, that problem is, currently there are no laws preventing people from using their fiat money to purchase Gold. As of today’s date, people can use their Fiat dollars to purchase a variety of Gold related products. I also have a problem with Mike Maloney picking and choosing when to use the failure of a fiat monetary system. As everyone knows, full-blown socialism which excludes the free market is doomed for failure and this failure would happen if money were backed by sand!

I admire people who at the very least are attempting to create money from sources like bitcoin, I even know people who are creating there own gold based commercially viable bartering products. Most rich people prefer bartering anyway. If you know anything about most rich people, one of the things they love to do is buy things like Art. Should the world return to a Gold Standard? No! If the world is going to drop the fiat system people should be able to back their money with whatever they want. Gold Standards have always failed, and gold standard systems will continuously fail like all other monetary systems because politics will always find a way to pick economic winners and losers.

You change society by explaining to society that economics is a trade-off, money is nothing more than a convenient form of bartering. The reason why salespeople are the most hated in society is that they are more skilled at bartering than everyone else. So in the event, there was no money, the victors in society would be the people who are best at selling a concept to people. Have a bunch of Gold actually makes you a target, having a large sum of fiat dollars makes you a target. Currently, Bernie Sanders is building his entire political campaign off of demonizing the rich. These types of tyrants would exist with or without a Gold standard and eventually, in a democratic society, the uneducated demons will use the power of tyrant to take from one group and give to another group.

Now to lastly answer the question why the Fiat U.S dollar standard has held up so well? It’s because currently, the United States has done an excellent job being the policemen of the world. Is it right or wrong? I don’t know the answer to that question, what I do know is the U.S Dollar has angel investment due in large part to the fact that most countries would have to defend their borders if the U.S economy ever died. Most American citizens know and understand this, I myself a Canadian understand that if the U.S.A was ever destroyed my number one investment wouldn’t be gold it would be Guns and partnerships. I get that Mike is selling people on his ideas, but money, paper money, gold money it’s not what’s going to make society better, what will make society better is changing the way people think.

Interesting times ahead