In the previous writings, I stated that a fiat currency always fails, earlier or later. In fact, according to a well-known monetary historian and finance educator, Mike Maloney, the average life expectancy of a fiat currency is 27 years. It all began with Mike’s family accountant. Failing account, to be accurate. He was the … [keep reading..]
You may noticed that on this planet everything goes in cycle. Money is not exception. Life cycle of money is not as striking and quick as that of a butterfly but worth all the attention. In this report I use deductions made by Mike Maloney. Mike can be viewed as a founder of the cycle. A self-taught … [keep reading..]
What is a fiat currency? The word “fiat” sounds slightly like the word “fake” and probably it is not coincidence. According to the Oxford dictionary, “fiat” means a formal authorization or proposition. While currency is any form of money* that is accepted as a medium of exchange** and is currently in circulation. Because currency … [keep reading..]