The present money system is unsustainable.

 THE WORLD IS AWASH IN DEBT

FIAT CURRENCY ALWAYS ENDS IN DISASTER

It seems everyone and every country is in ever increasing debt. The United States, while not he worst offender, leads the world in overall debt. The total private and public debt has increased from $28.6 Trillion in 2000 to $93.5 Trillion in 2022. What has allowed the United States the ability to amass this debt is the fact the Dollar is the world's reserve currency. This situation was enabled by the Bretton Woods conference in 1944. At that time the dollar was considered, "as good as Gold" and was backed by actual silver and gold reserves. That came to an end in 1971 when the U.S. ended the gold backing. $1 dollar in 1971 is equivalent to $7.90 today an inflation rate of 689%.

There is no currency in the world today that is backed by anything of real value, this allows governments to produce as much currency as it feels it needs without any limit. 100 years ago, all currencies were backed by some amount of silver and gold. This present situation robs savers of their labor and encourages everyone to spend their earnings, rather than face higher prices in the future. Many today do not have any substantial savings, but large amounts of debt. The situation today is far worse than in 2008 when the last debt bust was encountered. In fact, the situation was prolonged by encouraging more debt both public and private to keep things going.

One of the problems is the systematic failure of Democratic Socialism to engage in responsible fiscal policy. Promises of more benefits, in exchange for votes has become the norm,  not only from the private sector, but defense contractors and others who have their hopes on government expenditures. There is an endless line of lobbyists with their hand out for some sort of government funding. It is unsustainable and no one has the fortitude to tackle this impending crisis.

The Bond market it he biggest market in the world, not energy or food or all commodities combined. The buying and selling of government and corporate debt is by far the biggest enterprise in the world. That alone should tell us that something is wrong with the present situation. The trading of worthless paper with the hope of repayment is were much of commerce exists today.

It can and will most likely all implode in the very near future. In the U.S. the interest on this debt will soon be the government's biggest expenditure. This coupled with much of the world organizing a separate system, not dependent on the dollar, because of this irresponsible behaviour, will be the downfall of the present system that cannot be sustained.

The real answer is a return to currency being redeemable in something of real value, this limits the ability of nations to engage in deficit spending, stops inflation and encourages saving.  Anyone who suggest asset backed currency is accused of retuning to this archaic system of the past and that it would be impossible. It is difficult and painful, but not impossible.

The alterative that is going to be offered is a Central bank digital currency, something without any real value, just a computer entry. The dream of all authoritarian governments, that can monitor, tax, confiscate and control all financial transactions.The end of all liberty, and the ability to resist oppression.

I suspect somewhere in the near future this idea will be attempted to be sold, as the answer to the coming crisis.