Jason Hommel

How to Explain Fiat Currency to Silverbugs

9) Ask them why they think the financial system will collapse if the hated fiat dollar loses another 90% of its worth in the next 85 years.

UH, ok, I'm a silver bug. But I DO NOT think the financial system will collapse if the dollar loses another 90% of it's value in the next 85 years. So, there is clearly something about silver and fiat money that you do not understand.

Furthermore, the assumption in the question is that the dollar has lost only 90% of its value in the last 85 years. That may be true for silver only, but is not true for the value of the vast majority of things. It is closer to the truth that the dollar has lost about 98-99% of it's value since 1913, as many things cost 100 times as much. And still, the financial system has not collapsed. This implies that silver can rise 10 times, just to catch up with past inflation, nevermind future inflation, so once again, the person who is asking the question has a lot to learn.

Furthermore, we silverbugs do not fear "financial armageddon". Only those in paper do. We sincerely believe that the economy will get better if paper money collapses 100% of the way, and that the financial system would be greatly improved, and the economy greatly improved, with the return to honest money, so once again, the question is greatly flawed.