by gla22 » Tue Dec 09, 2014 8:33 am
It is better for the entire economy to be on fiat currency, but as an individual it should be avoided.
As an individual you do not want to hold large amounts of fiat currency for a long time. Its value erodes. A 1980 dollar had 3x the purchasing power than a dollar today has.
Gold in 1980 is worth pretty much the exact same as it is today adjusting for inflation.