Rue Brittania, or rue Dollar?...let's just say rue FIAT.
Of 775 fiat currencies: 24% had to be monetarily reformed, 21% were destroyed by war, 20% failed from hyperinflation, 12% were ruined by independence...and the 23% still remaining are pendng one of the previously mentioned fates.
- Not a good track record.
The 'pound sterling' has done pretty well. With the average life of a fiat currency being only 27 years, founded in 1694 on a troy pound of sterling silver (British sterling is still 92.5% silver) it is the oldest currency (317 years) still in existence...possibly the exception proving the rule (even if it has lost 99.5% of its original value).
The Dollar is no pound sterling. In only 100 years it has lost 98% of its value.
- How long before it has to be reformed-revalued? It will be sooner rather than later, and it won't last another 217 years...
Monday, 4 November 2013
Rue Brittania, or....?..........................from Rico
From Theo Spark at 22:30
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And AFAIAA the vast bulk of that
value destruction of the GBP occured in the 20th Century.
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