Financial Collapse: What is Fake Money?

Looming Dollar Crisis

The number of stories in the news about states and investors questioning the safety of paper money should make you look back into the history of failed empires and the currencies that accompanied them. Just this level of awareness out there predicts that we may be approaching a critical tipping point in confidence that could precipitate a currency collapse.

Here's my view: Paper currency is fake money no matter who prints it if it can't be converted to a commodity on demand. That ended in the U.S. a long time ago.


States Moving to Fill the Void:

A number of states are moving to create their own currencies or to make sure there is some means of transacting business when the dollar finally becomes worthless.

Utah has opted to allow precious metal spot values of U.S. minted coins as legal tender. This approach incorporates the U.S. coins with a twist. Rather than use face value this allows market value for payment of taxes and other debts.

A North Carolina legislator wants to create a state currency and to allow for precious metals to be used for transactions.

Don't Print Your Own Green:

Don't take matters into your own hands. Just buy gold or silver coins.

Printing your own money is a bad idea if you live in the U.S.A. It almost guarantees jail time and now it also means you're a domestic terrorist according to the U.S. government. Admittedly, this guy screwed up by using features of U.S. currency in his minted coins. He should have called them something else other than dollars. Here is the FBI page on the story of a North Carolina man now facing a long prison term for his mistakes. Don't print your own green.