Don’t Be Fooled: There Is an Alternative to Fiat

The Dollar May Not Be Dying—But It’s on Life Support Let’s start with this: Daniel Lacalle’s core thesis—that no viable fiat alternative to the U.S. dollar currently exists—is, for the most part, accurate. The euro is preparing for digital servitude, the yuan is hemmed in by authoritarian capital controls, and the BRICS currencies are riddled with political opacity and legal risk. On that count, we’re aligned. Where the analysis breaks down is in dismissing gold as a mere store of value with “low liquidity and supply”—as though these were bugs, not features. Liquidity Isn’t the Problem—Confidence Is Citing gold’s supposed illiquidity is not only misleading—it’s disingenuous. The global gold market trades hundreds of billions of dollars daily when accounting for…