Totally agree. They are an illusion of value.
And illusions often pop into reality as fast as a bubble bursts. Pop... it’s gone!
I have some Tulip Bulbs to sell them.
Let’s see...
We started with the Gold Standard...
When Nixon took us off it we had run away inflation...
So Nixon along with Kissinger established the “Petro Dollar” to stabilize our currency by promising the Arab oil producing countries military protection.
Which worked until Carter reneged on the deal and left Iran collapse and again we had run away inflation.
Reagan stabilized our currency by rebuilding our military which lasted until Clinton came along.
Clinton created a big facade by changing the “cost of living” computation in 1992 and then played the gold futures using the US currency stabilization fund. (According to Dartmouth college research, Social Security benefits would have been 75% higher in 2007 if the cost of living (inflation) indexes were not changed by Clinton)
Bush (W) attacked Saddam Hussein as Saddam was selling Iraq’s oil for Euro’s and Yen which would undermine our dollar as the Petro dollar for world oil transactions.
To keep the facade going under Bush (W) and Obama, the Federal Reserve began purchasing our US Debt by printing more phony money. When that didn’t work any longer, the Federal Reserve began investing in the Stock Market to keep the illusion going.
We are in a hot air bubble that is far bigger and far more dangerous than the Hindenburg.
I find it ironic that the motto on our money is “In God We Trust” as a reminder that we can’t trust the currency we are using.