Altcoins Talks - Cryptocurrency Forum
Further Discussions => Banks & Cryptos => Topic started by: Riya143 on July 25, 2020, 12:21:04 PM
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Fiat money will be a passing fad in the long-term history of money, while gold, as a hedge against government money, is outperformed by equities in the long run, according to Jim Reid, Research Strategist at German banking giant Deutsche Bank.
In a note to clients on Wednesday, he admitted that even as he's 'a gold bug' due to the bleak future of fiat money "in my long-term work I’ve always found many commodities difficult to recommend on a buy and hold basis as most underperform inflation over the long run."
Read More: https://cryptonews.com/news/fiat-will-be-a-passing-fad-in-the-history-of-money-deutsche-7215.htm
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The currencies of individual states will exist as long as the states themselves exist. Now there is only a tendency to reduce the share and volume of cash and move it into non-cash and digitized payments. Moreover, the states themselves will only benefit from this process.
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I think that we will use paper money for a very long time, and fiat should not disappear at all, even in the long term. States will certainly never give up their national money. This is part of their sovereignty. Money is power. No state will voluntarily surrender power to the wrong hands, switching to the use of not its own money.