In 1923 the money in The Weimar Republic became worthless due to hyperinflation. The same thing happened in France around 1796.
A fiat currency is what most of the world has. It is little pieces of paper, backed by nothing except our belief in little pieces of paper. Sometimes referred to as toilet paper money, it can be created out of thin air by central and private banks. The opposite of a fiat currency is one backed by something like gold. We used to have this.
A few billionaires think it might evaporate again. Do they know something we don’t? About a quarter way down in the attached article, the billionaires ask a media theorist (who they hired at great expense and flew to a secret location) how they will pay their security forces after ‘The Event’, once money becomes worthless.
Strange days indeed. They don’t seem to be joking.