Matter of timeIn catching up with world news, I see that another fiat currency is in serious trouble.
Turkish banks are reported to be paying up to 45% interest, at the governments request, in an attempt to deter the transfer into dollars.
What I think this says is that the Turkish people have totally lost faith in their government and are turning to the U.S. dollar for salvation.
The dollar is turning into the last resort for many.
Countries that are trying to maintain there own individual currencies seem to be facing a loosing battle.
They missed a great opportunity at the BRICS conference to show the intention of shoring up their committment to adopting sound money.
It's probably just a matter of time before something gives. What that is, I have no idea. Everything is becoming conjecture.
I'd love to see gold become part of the picture.