A bank note is a promise; and if redeemed in Gold, a promise that proves itself to be true. A promise that is 'redeemed' in another promise is proven to be what? Proven to be nothing but a lie.
Fiat currency is a lie, Fiat bank notes are lies, Fiat denominated bonds are lies... an economy based on Fiat is an economy based on lies. That is where we are today, living under a system based on lies... and the results are starting to show. Just as the lies of the Utopian socialist experiments in the USSR and China showed up... in the form of war, famine, death... so the results of living under a Fiat system of lies are starting to show up.
Is war far away? Is famine far away? I suggest both are already upon us. Thousands are dying in wars at this very moment... hundreds of thousands have died in the last few years... and the death of millions is in sight. The push of a button by a power mad psychopath would ignite the conflagration.
One third of the world population is already hungry; and not just in the so called 'underdeveloped nations.' In the UK thousands of retirees are facing a choice; freeze or starve. These poor innocents cannot afford both food and fuel. In the meantime, the power mad psychopath running the US government is busy shutting down power plants, pushing energy costs to the sky. How many American retirees already face the same choice; freeze or starve?