Maxime Berner, who is the founder of the People’s party of Canada, has suggested that the present monetary system that is based on fiat is outdated and needs a revival as soon as possible. The present system will not sustain for long and crypto seems to be the answer everyone is looking for if the present system is to go through a complete revival.
The present system allows the government to print as much money as they want to whenever they want to and this is debasing the financial capabilities of the country, this is not true for Canada alone, but many other countries are going through the same phase.
He gave the example of countries such as China and Russia that are basing their entire financial system of theirs on commodities such as gold which means that they can’t print more money than the availability of this commodity that is gold within their regions. It has always been the standard of wealth among nations but some have deviated from it and have made other elements the standards and that is not right according to Berner.
Global Monetary Revival
In a statement that he recently gave out, he said that he is a firm believer in a commodity-based monetary system because it is how it is supposed to be. A fiat-backed monetary system can’t live for that long and is not sustainable in any sense of the word, to say the least.
He handed out the example of the 19th century in which the entire monetary system of nations and the modern world was based on the context of commodities like gold. He is firm in the context that a revival must happen sooner or later and it is going to be worldwide also because if one nation has established such a system and has seen the great results that it impasses then others won’t want to stay behind and would want to jump on it as soon as possible.