Deutsche Bank Enters The Economic Fringe, Considers "End Of Fiat Money"

Fiat currencies have had nearly a 46 year run of success. But with cryptocurrencies “all the rage,” what Deutsche Bank Strategists Jim Reid and Craig Nicol call “inherently unstable” fiat currency system without any commodity backing might be coming to an end, they assert.

[timeless]

The end of a demographic trend will usher in another inflationary period, Deutsche Bank asserts

The idea of tying the supply of money to a commodity such as gold was that it kept government spending in check because money was in limited supply.

The US abandoned the gold standard in 1971, anchoring the currency’s value not to a commodity but rather the faith in a government. This was...