This is why many Conservatives want to begin the phaseout of the fiat-based US Dollar and replace it with an asset-based US dollar. I’d do it, but it will be based on a mix of gold, silver, platinum, palladium, copper and nickel.
” I’d do it, but it will be based on a mix of gold, silver, platinum, palladium, copper and nickel.”
Actually I’d suggest the energy dollar. A dollar would be backed by a quantity of oil or oil/coal/nuclear. It would be redeemable in those, or, alternatively, in other commodities but at set rates. Some version of this idea would return money as a store of value and retain monetary flexibility. Increase your oil, coal, nuclear supplies and you can increase the amount of money in circulation.
The thing that is destroying the EU is that the countries have given up control of their monetary policy but retain control over their fiscal policy. Meaning, they can spend as much as they like, but can’t expand or contract their money supply to account for it. In does not equal out. The entire EU concept, is a reworking of the old Soviet Union, but without the military to hold it together when the economy fails.