S’pore overtakes Japan as Asia’s biggest forex hub

[AlphaQuant]

I am not sure why there is so much against fiat system. It is the only system that is able to work currently barring barter trades.
And, it works well. The US currency depreciates when it goes into printing mode.

well - the current set of "rules" for the monetary system is only 70yrs old if you consider that Bretton Woods was in 1940s. Of course money has existed in many forms mostly in gold for centuries. Some of the forumers might even be older than Bretton Woods!

Fiat should never go away since no sovereign will want to forego their control over monetary flexibility - history has shown that most governments will resort to some sort of money printing in some form of another once they get into debt problems as a result of fiscal irresponsibility. "This Time Is Different: Eight Centuries of Financial Folly" is a good book to read if one has the patience to read through it (warning thick book!!)

http://www.amazon.com/This-Time-Differen...0691152640

The only question is whether the current system of the USD as the global reserve/settlement ccy comes under challenge, which players are involved and when it happens.