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ONLY A CRISIS WILL BRING MONEY REFORM.
- Source :
-
CATO Journal . Spring/Summer2012, Vol. 32 Issue 2, p279-283. 5p. - Publication Year :
- 2012
-
Abstract
- The article focuses on the importance of money reform, while exploring the economic and political aspects of fiat money. The author emphasizes that fiat money tends to lose it value over time and is not a reliable source of wealth. A brief history of the Bretton Woods system of monetary management is provided, along with former U.S. President Richard Nixon's decision to terminate the convertibility of the U.S. dollar in August of 1971 and the economic consequences that ensued. The author discusses the politicization of money and the vulnerability of fiat currencies being subject to political influence.
Details
- Language :
- English
- ISSN :
- 02733072
- Volume :
- 32
- Issue :
- 2
- Database :
- Academic Search Index
- Journal :
- CATO Journal
- Publication Type :
- Academic Journal
- Accession number :
- 76315458