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Markus H. Schiml

The Insolvency of the Fed

Mises Daily

Author: Philipp Bagus Markus H. Schiml

Online Publish Date: February 5, 2009

Category: Gold Standard, Monetary Theory, The Fed, Money and Banks

Since August 15, 1971 the US dollar has been an irredeemable paper currency. Every irredeemable paper currency in history has failed. Yet, the experiment of the US dollar and the rest of the fiat paper world continues. During the current crisis, however, financial systems all over the world are increasingly struggling, and the end of the

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