Will Liz Truss as PM mark a turning point for the pound?

MoneyWeek/Dominic Frisby/9-8-2022

photograph of British pound notes“It’s not just the pound, even if it is one of the worst offenders. It’s all fiat money. I’ve been banging on about it for 20 years but I may as well bang on some more: fiat money and its devaluation is the greatest and most pernicious intergenerational theft in history.”

USAGOLD note: Frisby says we might finally be in the “end game” for fiat money in general, not just the British pound. That aside, he is hoping the Truss government will lead a turnaround for UK’s currency – once the world’s top reserve currency.

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