re-read that, and change the word 'dollar bill' for 'gold'.
the idea that a commodity avoids boom/bust and other assorted bullshit we're dealing with currently is proven false by....looking at the time period where it was the norm.
it wasn't pancakes and high fives then, either. again, it's all just a game we all agree is sane even if it isn't. worth is assessed by the assessor, no matter if it's fiat currency, or fiat commodity. it has worth because we say it does, nothing more.
it's the principle of cycles, dear. History proves that every time people switched from fiat currency - they got back to gold and silver. Gold and silver are somewhat more natural types of commodities and not fiat. Yes gold bubble is going to bust within 6-9 years. Just like the dotcom bubble. Just like the realestate bubble. just like any bubble.
Im not sayin that PMs are to become our currency. I'm saying that right now it will be gaining more power than any currency in the world, because any currency in the world depends on USD.