Most national currencies are flawed for several reasons including the following:
- Mechanism of creation: since the central bank, a non-elected body, can decide on the quantity of money supply, it’s underlying value can be manipulated. If there’s too much supply, the value can be significantly undermined.
- Currency wars: since each country, with exceptions like the European Union, can choose to print as much currency as they want. They have an incentive to lower the value of their currency to make sales of their countries’ goods and services relatively less expensive.
- Movement of money and taxation laws: Governments can decide to significantly affect the value of many people’s savings by deciding to heavily tax corporations and individuals where it be challenging for corporations and individuals to switch to more favorable governments
