eugene romanenko about future
One of the most reliable forecasts an economist can give is a forecast about the future of the fiat monetary system. Every country in the world now has its own national fiat currency. It is not backed with gold and cannot be exchanged for gold in it`s issuer - the central bank. The state forces its citizens to use it. Fiat system has been designed for get rid of restrictions on the money production. Unlike gold, which must be mined from the ground, fiat money are literally created out of thin air. The main consequence of this state of affairs is the chronic devaluation of the fiat money of any country where emission by the Central Bank is preserved (except Somalia). It means inevitable price inflation. In addition, it is necessary that the state has to borrow them constantly in the Central Bank for the release of new money. Therefore, public debt is also growing, and we observe it in the example of the US and other countries. So, the devaluation of national currencies and the growth of public debt is something that can be predicted in the modern world. Guaranteed.