Re: [gang8] Dollar Hegemony Revisited

[William F Hummel <wfhummel@xxxxxxxxxxx>]

Hugh Whinfrey wrote:

>I have no idea what post-fiat era money
>would consist of, although I believe it would be
>'cashless' electronic money of some form.

Whether it is fiat money or commodity money, the form is immaterial.
Money itself is a token that is either (1) convertible to some
valuable asset or (2) not convertible, meaning fiat money issued by
the State.  Since barter is totally impractical in the modern era, and
Hugh predicts the demise of fiat money, he is necessarily predicting a
return to commodity money.  Now what is the most likely commodity?

William F Hummel