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Next year will be ‘good time to die’ for ‘fabulous fiction’ of fiat system – RT’s Keiser Report

The hosts of RT’s Keiser Report, Max Keiser and Stacy Herbert, look at what 2021 has in store for one of the fastest growing assets of the year, bitcoin, and the impact of its triumph on the fiat money.

The global fiat system turns 50 next year, and this anniversary “is a good time to die,” Stacy said in the year-end episode of the show. “The fiat global standard was a fabulous global fiction…but relentless optimism is on the other side.”  

The optimism refers to bitcoin which has been hitting new milestones on an almost daily basis at the end of this year. On Thursday, the largest cryptocurrency pushed through the $29,000 mark to hit another record high. 

According to the former stockbroker Max Keiser, the mere creation of the virtual currency in 2009 should have “alerted everyone in the world that the days of fiat money were going to be ending” in a couple of decades.

“So here we are, about a decade or slightly over. The fiat money and the central banks are all about to go extinct. It’s gonna cause ripples and disruptions for sure, but on the other side of this is rupture,” he said.

For more stories on economy & finance visit RT’s business section

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