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slay22

566 Posts.

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23/03/19

23:40

Post #: 37864502
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Originally posted by Dr.Who: ↑

22, the monetary system is already as good as digital. Something like 95% is recorded in digital ledgers while just 5% is in notes.

If I should worry about a future total digital system [I use the term blockchain loosely it might some iteration of that] then I should be worried today - I'm not.

Besides, the argument as I recall is that money supply [in whatever form it takes digital /notes ] should be backed by something tangible such as gold. And that the world is sinking in a pile of debt. I argue that putting in constraints would restrict growth and put growth into reverse creating a dark period indefinitely. It won't happen so don't worry. The current system will evolve in line with technology not go back to a previous century. Gold will still look good on pretty ladies though.

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It will also look good in bank vaults and on balance sheets
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0 Great analysis

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