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> Political ones have failed In what sense has the current monetary system failed in your opinion? The gold standard certainly failed, that's why it was abando

• danuker 5y ago
  Just fine? To be able to save for retirement, you have to assume a lot of risk (stocks) or accept a negative real (inflation-adjusted) return (bonds). This is because inflation acts as a tax on top of income tax and social security etc. The gold standard failed and inflation is higher because governments like to spend more than they earned. This is unsustainable - any asset holding its value will be preferable to funding a government that is constantly losing money (i.e. bonds).
  • lottin 5y ago
    The economy of the future doesn't owe you anything, that's not how it works.
    • danuker 5y ago
      Yes it does. I work for money, and I expect to get something in return when I spend that money. And what I get in return should not be exponentially robbed by tyrants to pay for bread and circus.
      • lottin 5y ago
        Well, it doesn't work like this. Producers of goods and services have no obligation to sell a fixed amount of goods and services for a certain price in the future. You have a choice to consume now or to save and consume later, and there's an inherent risk to saving because the future is uncertain. And this is true regardless of the currency that you use, or the inflation rate. A crypto-currency is not going to make the future any less uncertain, sorry. You have been sold a lie. In fact, if you put your savings in a crypto-currency, saving is going to get a lot more risky for you personally, not less.