The world is made up of nationalistic fiat currency systems, a layering of sorts, since there are some that exercise a stronger degree of hegemony than others. What they all have in common is their dependence on the trust of the people in their ability to serve as a money that has purchasing power.
If the fiat currencies have been massaged in an unethical manner then the value of that currency can quickly disappear since its existence depends on trust.
There are a few dominant fiat currencies and the degree of domination changes over time. For a long time the U.S. dollar has dominated since it has been designated as the world reserve currency. But this mandate cannot be enforced when the urges of nationalism stir discontent, discontent with the theft of wealth associated with the inflation of the money supply.
One instance of this kind of response was the formation of the Eurozone and the Euro currency. But even within this framework there is similar redistribution of wealth from nations with recent history of monetary restraint (since their populations have memories of the destructiveness of hyperinflation) towards nations (even more) recklessly expanding the fallacious policies of socialism. Germany is feeling the pressure of the extraction of its wealth to prop up the hemorrhaging in other nations.
As you can see the level of trust is falling. Then, as a reaction, Germany asks to repatriate its gold held in trust with the Federal Reserve in the U.S. and finds that such a repatriation is not permitted for reasons that are very suspicious.
All of a sudden it is not just the people all around the world who see the value of their currencies over shorter and shorter intervals of time passing through their fingers like sand but now nations are witnessing the consequences of the untrustworthiness of fiat currencies. The lack of trust in fiat currencies is reaching a critical point and the race towards real money is beginning.
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