Around the world Quote by Porter Stansberry
“Historically, bad money always drives out good. Accordingly, if a central bank anywhere in the world sets up its currency to be backed by any kind of hard currency, it would cause people all around the world to desire that currency for their savings, rather than dollars.”
About This Quote
Source Article: Investment Strategies, 2019
Hard‑currency backing attracts global savers, undermining fiat dominance
In simple terms: Hard assets draw savings away from dollars
Key Takeaway
Consider currency stability when investing
Themes
economics
currency
inflation
Mood
analytical
cautious
Type
financial
strategic
When to use this quote
- portfolio diversification
- risk assessment
- central bank analysis
- savings strategies
Key Concepts
monetary policy
global finance
Questions to Reflect On
- How would a shift to hard‑currency affect your investments?
- What risks accompany abandoning fiat currencies?
A Different Perspective
Hard‑currency may be volatile and scarce
![“We were not foolish enough to try to make a currency [backed by] gold of which we had none, but for every mark that was issued we required the equivalent of a mark's worth of work done or goods produced ... we laugh at the time our national financiers held the view that the value of a currency is…” quote by Adolf Hitler](https://sms4smile.com/quotes/img-quotes/db1/adolf-hitler-253_currency_we-were-not-foolish-enough-to-try-to-mak_791068.jpg)
![“[Gresham's Law]: Bad money drives out good money.” quote by Thomas Gresham](https://sms4smile.com/quotes/img-quotes/bd3/thomas-gresham-105117_good-money_gresham-s-law-bad-money-drives-out-good_1380878.jpg)
