THE COMING FIAT MONEY CATACLYSM AND THE CASE FOR GOLD.

The article focuses on the economic aspects of the global fiat monetary system that has been prevalent since the early 1970s. The author explores the principles of the fiat system, including the ability of central banks and governments to increase spending when desired and its tendency to avoid financial constraint regarding deficit finance and the over-issue of currency. The author compares the monetary system to that of the mid-20th century monetary management system called the Bretton Woods system.