The hidden link between fiat money and the increasing appeal of socialism

Mises Institute/Patrick Barron/11-27-2019

photo of U.S. one dollar bills rolling off the printing press“It is likely not a coincidence that most people living today have lived most of their lives in a world dominated by fiat money. It has now been nearly fifty years since the United States broke all ties between the dollar and gold. It’s been even longer since other major currencies were tied to gold at all. Consequently we now live in a world where the creation of wealth is seen by many as requiring little more than the creation of more money.”

USAGOLD note:  “Those who do not learn from history are doomed to repeat it” (George Santayana) while the prudent saver scrambles to protect whatever wealth he or she has managed to accumulate.

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