It's a good thing that concepts like Visa, Mastercard, Paypal and GooglePay can be considered private fiat currencies that create new competition for these centrally controlled fiat currencies that are losing their value relative to gold and oil. Or we could always dream that the US will get back on the gold standard it was on until Nixon, that leader of supposed conservative capitalism, took us off it in the early 1971.
In the meantime, all this excess liquidity gets magnified around the world as we all trade it, invest it and borrow it. And as the world's financial systems are all so tightly integrated in 2007, the devaluation of the world's currencies relative to gold and oil can continue for years to come. I wouldn't want to try to top-pick this dynamic, but it is something that will certainly come home to roost some year. All fiat currencies end up worthless. All the world's central bank fiat currencies will be no different. Even if that might be decades off.
P.S. Will you be there when Cramer makes his next move?
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Cody Willard is the manager of CL Willard Capital Management, LLC. He is a regular guest on Fox News, CNBC and other networks, and he writes a monthly column for the Financial Times. He is also an adjunct professor at Seton Hall University and the author of TheCodyReport.net, a monthly stock market newsletter. Willard appreciates your feedback -- click here to send him an email.
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