E013: Goldbugs Are Wrong to Say that Gold Will Be Remonetized

Gold lovers are wrong on three accounts: that the public would lose faith in fiat currency, that gold will be remonetized, and that gold will become the reserve currency.

In this episode, I argue that:
1. While the public will lose faith in USD / EUR after the upcoming crisis, they are ignorant of the distinction between fiat currency and hard currency.
2. What arises from the ruins will be new fiat currencies not backed by gold or other hard assets because it is too attractive to those with their hands on the printing press.
3. There will not be a single reserve currency to replace the USD, so that gold will be the reserve currency is a non sequitur.

Related episodes on
* The upcoming crisis: https://www.youtube.com/watch?v=BV_crlySByU
* Bitcoin being the perfect bubble: https://www.youtube.com/watch?v=sN07-UG_tvU

My websites: https://drjlt.com, https://neofiliac.com