Over the Past 300 Years, No Fiat Money Has Escaped Going to 0

[Gozie51]

if at some point we are going to back to gold we need to use gold directly and go back to the old days of carrying gold in our pockets.

Gold system and generation is gone and gone for good. If gold is to be used for money, this will lead to impoverishing of the masses because gold is used as measurement of riches. Therefore it is out of the reach of masses.

Well done, the Pound has indeed been around for hundreds of years and never gone to zero. OP also ignores all the currencies in use currently that have not gone to zero. The USD has been around for over 220 years as well and depreciates slowly and intentionally and it's worked well for a long time.

I think I know that fiat can be devalued either by the government intentionally or by the economic failure in the society but to go back to zero surely means no importance, relevance of governance because fiat is the strength of government which is the reason of the struggle not to accept bitcoin and cryptocurrency because it doesn't give control to few people in government but to the masses.

[Cling18]

Some are afraid that we will return to zero, and every year we move away from it. Over the Past 300 Years, No Fiat Money Has Escaped Going to 0
Listen https://podclips.com/c/maVy2k?ss=r&ss2=bitcoin&d=2021-03-22

There are actually a few fiat currencies that lost it value so that simply means that any fiat currency could possibly drop its value to zero. There's no standard value so anything could happen anytime. There's no stability even in fiat though it's a necessity for us to survive.

[wxa7115]

if at some point we are going to back to gold we need to use gold directly and go back to the old days of carrying gold in our pockets.

Gold system and generation is gone and gone for good. If gold is to be used for money, this will lead to impoverishing of the masses because gold is used as measurement of riches. Therefore it is out of the reach of masses.

Which is why in the rest of my post I said that such a thing was very unlikely, however as I said the gold standard will maybe make a comeback but it is useless, backing paper currency with gold may seem like a good option but governments will always try to cheat the gold standard, that is what happened many years ago and it will happen again if it is implemented.

This is why the only option for those that support gold is that we use the precious metal directly but even that is unlikely as it is better to use something like bitcoin that can be carried surreptitiously and cannot be counterfeited like gold.

[SaiyanSS3]

All them worthless fiat money can be collector item too.

[jaysabi]

Aren't you forgetting about the British Pound? It lost a lot of value over the year but I don't think it ever went to 0.

Even if we changed it to 99% of fiat money crashes every 300 years, does it mean we have to wait for it to happen? The Lira is dying as we speak but it won't make people lose everything if they get rid of it and invest.

Well done, the Pound has indeed been around for hundreds of years and never gone to zero. OP also ignores all the currencies in use currently that have not gone to zero. The USD has been around for over 220 years as well and depreciates slowly and intentionally and it's worked well for a long time.

But the point here is that even if the statement made by OP is false strictly speaking, the tendency of any fiat currency is going to 0. Both the Pound and the USD have lost more than 99% of their value and they keep going down. So they haven't reached zero yet but they are on their way to.

Nobody alive has ever experienced that type of devaluation because nobody lives long enough to experience it.  It's disingenuous to cite how much the dollar has depreciated since 1913 because nobody alive currently had money in 1913 and so nobody has experienced the rates you cite. Further, nobody holds significant savings in fiat currency anyway, it's held in investment classes that actually produce returns, so even over decades of living with a devaluing dollar, nobody experiences the full inflation rate in their lifetimes.  Both of these facts together render the inflation issue as grossly overstated by crypto enthusiasts.

[awik p]

if at some point we are going to back to gold we need to use gold directly and go back to the old days of carrying gold in our pockets.

Gold system and generation is gone and gone for good. If gold is to be used for money, this will lead to impoverishing of the masses because gold is used as measurement of riches. Therefore it is out of the reach of masses.

Which is why in the rest of my post I said that such a thing was very unlikely, however as I said the gold standard will maybe make a comeback but it is useless, backing paper currency with gold may seem like a good option but governments will always try to cheat the gold standard, that is what happened many years ago and it will happen again if it is implemented.

This is why the only option for those that support gold is that we use the precious metal directly but even that is unlikely as it is better to use something like bitcoin that can be carried surreptitiously and cannot be counterfeited like gold.

indeed bitcoin cannot be counterfeited like gold, where there is no definite supply and the amount is increasing every day. however, because gold is a recognized precious metal, it has been used as the standard for printing fiat currencies to date. and to remember in this case the government can manage everything

[Kakmakr]

Well, what happens when it goes to zero? It simply gets a reset by the governments and everyone continue on like normal. The eventual end of national currencies are not a big deal anymore, they find excuses and they find innovative ways to "reboot" it, like the US Dollar when it was backed by Gold.

Governments like Zimbabwe just turned to the next Fiat currencies and piggy backed on it to survive and once that fails, they will just latch onto the next reserve currency that survived. 

[wxa7115]

Well, what happens when it goes to zero? It simply gets a reset by the governments and everyone continue on like normal. The eventual end of national currencies are not a big deal anymore, they find excuses and they find innovative ways to "reboot" it, like the US Dollar when it was backed by Gold.

Governments like Zimbabwe just turned to the next Fiat currencies and piggy backed on it to survive and once that fails, they will just latch onto the next reserve currency that survived. 

If it was that simple then no one will be worried but we know that is simply not true, when a fiat currency goes to zero or it approximates that value then there is an enormous amount of suffering, people lose their jobs and the few things they were able to accumulate in decades of hard work and all of that is erased just because governments could not keep themselves from printing more currency.

And what it is even worse is that even if they know this if people try an alternative path like adopting gold or even bitcoin then governments try to ban those options, which show us they only care about their own privileges and their own survival and they do not care about their citizens at all.