Death of fiat
Does anyone have any mitigation strategies for fiat currency risk that local governments can employ? There are very strict guidelines surrounding local government investing activities and for good reason, but I'm wondering if there are less obvious options that still adhere to the legislation and can help protect taxpayer money in the event of loss in faith in our sovereign currency and the subsequent hyperinflation?
Historically, every fiat currency that has ever been created eventually dies. Ever since the western world decoupled from the gold standard, most of our sovereign currencies have been in free fall; some declining faster than others. There are a number of financial indicators that are concerning. Legislation severely limits local governments' options in terms of risk diversification but I'm hoping there are options out there that I'm not aware of and that others would be willing to share.