The modern monetary system, built on fiat money, has weak foundations similar to the Leaning Tower of Pisa, risking economic instability and collapse. Historical debasement practices, like those of ...

Forbes contributors publish independent expert analyses and insights. A few years ago I wrote a piece, for Public Discourse, called “Montesquieu and the Monetary System.” It discussed our having fiat ...

In August 1971, Nixon ended gold redemption as countries, led by France, demanded gold for their US dollars, leading to the birth of the global fiat monetary system. The fiat system, born out of ...

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