The world is SCREAMING for a new financial system
Source: sovereignman.com
One of the key lessons we can take away from history is that the global financial system changes… frequently.In ancient times, Roman coins were used across the region by Romans and non-Romans alike who engaged in trade and commerce.Given how destructively successive Roman governments debased their coins, however, the reserve burden eventually fell to the Byzantine Empire, whose gold solidus coin became the dominant currency in world trade.Over the centuries, this standard changed several more times. The Venetians, Florentines, Spanish, French, British, etc. each issued the world’s dominant currency at one point or another.But the fundamentals of those currencies changed. Governments engaged in wanton debasement, mismanaged their economies, and accumulated massive debt levels. And eventually the world shifted to new currencies.Since the end of World War II, the US dollar has been the dominant currency in the world.And even though Richard Nixon ended the dollar’s convertability to gold and unilaterally abandoned the US government’s obligations under the Bretton Woods system back in 1971, the world has still clung to the dollar for the past 43-years.But this is changing rapidly.[...]Read the full article at: sovereignman.com
