Baby Boomers and Gen Xers may feel vibrant and full of wisdom, but their grown kids don’t always see it that way and many wish they’d keep their outdated parenting advice to themselves.
One of the things that converted me to the Austrian way of thinking about the economy was the concept of money with an expiration date. Early articles at Lewrockwell.com and Mises.org covering hyperinflations of various forms and kinds horrified me when banknotes and government scrip reached the point of forcing people to spend money versus having it lose its ‘legal tender’ status.
Money that ‘expired’ like points on your credit card was simply a horrifying idea.
Martin Armstrong makes the point all the time that the main reason why the U.S. dollar is the world’s reserve currency is because it is the only modern government-issued currency that hasn’t been defaulted on in over two hundred years.
Luongo: The Digital Yuan, Proof Of Guns, & The Expiration Of Money zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.