In one of the most popular articles that appeared on this site, we explained how 600 different forms of paper based money have all disappeared. Recorded history shows not one case where a form of paper based money has continued its existence. At best, some have survived a bit longer than the others.
When talking about paper based money, we refer to forms of money that are not backed by any tangible assets like gold or silver. A promissory note or coin was once used to redeem a predefined amount of gold or silver. Since 1971, only the note or coin has left with a promise to fulfill the function of money (hence fiat money).
In their latest report, PIMCO, who oversees more than $ 2 trillion in assets with a focus on fixed income investments, points to the effects of creating unlimited amounts of money. While doing so, they loudly ask the question what money is (source).
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http://goldsilverworlds.com/gold-silver-insights/paper-money-has-a-long-history-but-short-existence/
Paper Money Has A Long History But Short Existence
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