by Adam Sharp
Daily Reckoning
“Paper money eventually returns to its intrinsic value – zero.” – Voltaire, 18th century
In films and TV shows set in the future, money is usually a digital government currency.
Credits, cubits, and chits are a few names I recall. This is a globalist CBDC-based vision of the future. Bleak.
But in one of my favorite sci-fi movies, Looper, precious metals reign supreme as money. In that film, the inevitable breakdown in fiat currency has already occurred and hard money has made a comeback.
This latter scenario is far more likely. Time and time again, central banks and governments have proven they cannot be trusted with the power to create unlimited money. It doesn’t matter whether it’s paper or digital money, central bankers will print too much of it given the chance.