Forty-four years into Richard Nixon’s fiat-money experiment, there’s little evidence the financial system is more stable than it was under the gold standard. In 1971, Nixon suspended the convertibility of USD to gold partially in order to improve the country’s balance of payments, which hasn’t quite worked out as planned. Some policymakers in Europe are ready to double-down on the concept of fiat currency by banning cash altogether.
Earlier this month, the Danish government proposed […]
