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What would you do if our global financial system or fiat currency system collapsed?

Answer by Erik Fair:

Wait it out someplace near a large body of potable water and arable land – it will be temporary because Money and Trade are fundamental to human existence – we have always engaged in trade, and have always invented money to facilitate trade. We will again in future if the existing Monetary System ceases to function from lack of Confidence and Trust.

See my answer to Economic History: When, where and through what stages, does the sort of "marketplace" that Adam Smith addressed evolve, from an occasional, interpersonal, subsistence-transaction into a requisite, social-institution, where transactions commonly generate wealth more efficiently than subsistence?

The only thing that screws up trust and trade and money (time and time again) is the Lies that Politicians tell people (e.g. "I can give you everything you need or want and you don't have to work for it" – Socialism and variations thereof), and the laws that politicians write which forestall or prevent competition and trade (e.g. Price Controls, Protectionism); Economic Collapse comes from too many people believing those lies and acting on them as if they were true.


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