Forbes contributors publish independent expert analyses and insights. A few years ago I wrote a piece, for Public Discourse, called “Montesquieu and the Monetary System.” It discussed our having fiat ...

Money acts as store of value, unit of account, and medium of exchange, facilitating trade. Fiat currency relies on public trust and economic conditions, unlike commodity money. Key money properties ...

The modern monetary system, built on fiat money, has weak foundations similar to the Leaning Tower of Pisa, risking economic instability and collapse. Historical debasement practices, like those of ...