How Long Does This Go On Before There's A Currency Crisis?

How’s this for irony -

In our modern monetary system, the term ‘fiat currency’ refers to this absurd notion of paper currency that is conjured out of thin air by central bankers and backed by nothing but hollow promises.

‘Fiat’ is a subjunctive conjugation of the Latin verb ‘fi?’; literally translated, it means “let it be” as in “Let there be light.”

Or in this case… ‘let there be paper money,’ which pretty much crystalized the absurdity of our monetary system.

Former Fed Chairman Ben Bernanke summed this up nicely in a 60 Minutes interview he gave a few years ago in which he said, “We can raise interest rates in 15 minutes. . .”

And he was right. Central bankers can change interest rates whenever they want.

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