Comments by "Winston Smith" (@winstonsmith935) on "Cryptocurrency industry has rough week amid market uncertainty" video.

Unless it’s backed by gold, it’s just another Fiat currency, and in the end they all fail.
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@my3dviews Pamper currency has led to the collapse of almost every economy that has tried to institute a fiat currency to trade for goods and services. It’s not looking very well for the once mighty dollar, either. Paper money eventually returns to its intrinsic value 0. Following WWI, Germany’s Weimar Republic faced historic debts. So, Germany put the printing presses to work – a total of 133 printing companies were kept busy. The mark became more than worthless. It was used to heat furnaces. Burning the paper currency to keep warm was more efficient than using it for trade. Currency is made for excellent bathroom tissue. The Revolutionary War was financed with a paper currency called the continental. It, too, crashed on a grand scale. This, finally, brought about some healthy American distrust for fiat currency. The US dollar is no longer backed by gold.
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@sportsfix6975 History shows all Fiat currency fails at some point.
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@my3dviews Ask the EU countries why they only accept gold as payment from the USA, because the world is backed by gold, US dollar is only a promissory note, Nixon Removed the USA from the gold standard. The EU don’t trust the US dollar.
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@my3dviews Keep up to date with financial and economic news, France and Germany were the first to want trade payments in Gold not US dollars, as I said US currency was taken off the gold standard by Nixon, all a US dollar says Promise to pay the bearer. So US dollar is an promise to pay you with worthless paper, the Europeans are getting smarter by the year. Crypto Currency is backed by what? Stardust.
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@my3dviews As a Forensic Engineer I don’t deal in Quotes, or conspiracy theory, I deal in real facts. The US dollar has not been the de facto for a while, Europeans learn fast, and now under Biden Europe is running for the hills.
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