Originally Posted by
waflyboy
It was only a matter of time before the US went to a fiat money system. But that's another discussion for another time.
Today, I would attribute inflation and the weakened dollar largely to the current administration's policy of deficit spending. This, of course, is in addition to the rising price of oil. Kind of a chicken-egg conundrum, wouldn't you say?
Yes unfortunately it may have been only a matter of time but looking at flat money system vs. basis gold, its not the smartest move. I mean the definition of flat money is money that is intrinsically uselss, used only as a medium of exchange.