Back in 2012, the Cato Institute published a paper titled The Coming Fiat Money Cataclysm and the Case for Gold. The libertarian think tank is hardly unique in its animosity toward the fiat currency system, nor was its 2012 paper wholly unique in its concepts and sentiments. It did, however, predict some of the issues we are trying to resolve today, notably inflation linked to the era of “cheap” money through low-interest rates.

Today, if you look at social media, particularly platforms like Reddit and Twitter/X, you’ll also find plenty of derisory posts about the fiat system. What’s more, we might argue, albeit unscientifically, that the backlash is growing. Some of this can be quantified. For example, there is some correlation between the rise of Bitcoin as hard money with a limited supply and
the criticism of the fiat currency system. However, some of it is not so easy to quantify, such as the animosity toward fiat currency being linked to wider dissatisfaction with the state.

But is any of it justifiable? The problem with answering that question is that there are both economic and sociological answers. The former is easier to frame, whereas the latter is not. Let’s start, though, by analyzing what we mean by fiat currency, which will help us understand its critics.

Fiat currency is effectively all money

Fiat currency is essentially money not backed by a physical commodity (gold or silver, for instance). It is, therefore, nearly all the money in existence in the world today. When you look at the trillions of dollars being traded in forex markets, it is fiat currency that’s being traded. The Canadian dollar used to be partially backed by gold, and some of its value is derived
from oil prices, but despite some arguments to the contrary, it remains a fiat currency.

So, why, then, should we criticize money? Well, it’s due to the fact that having no physical backing, such as a lump of gold or a barrel of oil, central banks and governments can print that money out of thin air. The charge against it is that printing new money creates more of it (naturally), and that eventually devalues it. You’ll often see anti-fiat accounts on Twitter/X
posting charts of how their currency’s purchasing power has declined or will decline over time. This is the economic argument against fiat currencies.

This chart shows how many years it would take for each fiat currency to lose 50% of its buying power if today's inflation rates remained constant.

The red line marks the average number of years worked before retirement.

There will be no retiring if one chooses to save in fiat. pic.twitter.com/P5CjXg5v3e

— Sam Callahan (@samcallah) April 2, 2024

However, the argument loses merit when certain factors are pointed out. Yes, the Canadian dollars in your pocket lose purchasing power over time, and that’s why you can’t buy a house for the same price as your grandparents. Yet, you also will earn a lot more than your grandparents. If something used to cost a dollar and you earned ten per hour later costs five
dollars, yet you earn fifty per hour, there isn’t really a problem. Of course, that’s just the theory, and it does not always work that way in practice.

Wages keeping up with inflation

In Canada, for example, disposable personal income has tripled since 2001. It also increased in the last quarter of 2023 (the latest period for measurement). Have wages kept up with inflation? Not always; you might look at everything from the cost of a cup of coffee to your mortgage payments to consider that it hasn’t. But the problem is not fiat currency in and of itself. It is the balance between price rises and the amount of money you earn. From the period 2019-2022, average hourly wages grew 12.5% in Canada; CPI rose 10.1% in that time. There were accelerated periods of inflation, particularly in the aftermath of the pandemic, but on balance, wages kept up with inflation.

Now, none of this is meant to say that the fiat system is perfect, nor does it suggest that the government and central banks get it right on balancing the system. But broadly speaking, the antagonism toward fiat currency tends to be more sociological than economic. In short, people are angry at the system, not fiat currency itself. Those pushing the demise of fiat currency are often anti-establishment, at least ostensibly. They are interested in concepts like Bitcoin not only for financial reasons but also because it is not a creation of the state.

Their concerns do go into other areas, such as central bank digital currencies (CBDCs), and it leads them to see the fiat currency system as one of control. How valid are those concerns about CBDCs? We would be foolish to dismiss them, and there should be perhaps a sense of frustration that the mainstream media is broadly ignoring the threat. At the moment, the official line from Canada is that there are no plans for a CBDC – yet. However, and this is important – the BoC is apparently researching the “need” for one in the future.

What would that “need” be? Could it be the control of citizens’ finances? There is an all-too-scary suggestion that this could be the route that governments take, where fiat currency becomes less money and more like social credit. You drink or gamble too much? Well, the government will freeze the money in your account until you prove you are spending responsibly. If we go into a situation where fiat currency becomes a system of control, then inflation is the least of our worries.

For some, there is a sense of a tipping point on the horizon. We have this situation where governments are constantly printing money – and taking on huge amounts of debt – and we have the specter of CBDCs. You can, therefore, understand the allure of Bitcoin and other decentralized forms of currency, although those systems in themselves are not perfect. The
question, though, is whether we meet these challenges before the tipping point is reached?

With the rise of online dating apps and international brides site, it’s easier than ever to meet and
connect with potential partners from all over the world. While getting to know someone online
can be exciting, taking the next step to meet them in person for a first date can be thrilling but
also nerve-wracking. Planning a trip abroad to meet an online match for the first time adds extra
layers of complexity and potential challenges if you don’t prepare properly.

This article provides important tips for having a smooth, enjoyable, and safe trip when traveling
to meet an international online connection. With the right preparation and expectations, your
overseas travel can lead to incredible new adventures and deepened relationships.

Research the Destination Thoroughly

One of the key steps is doing thorough research beforehand about your date’s home country and city. This includes:

● Learning Cultural Customs and Etiquette – Study up on the local customs so you don’t inadvertently do something offensive. For example, certain hand gestures or body language could be inappropriate. Make sure you understand etiquette around things like greeting kisses, acceptable public displays of affection, dress codes, gift-giving, etc.

● Travel Requirements – Check visa, passport, and other travel requirements for your nationality. Make sure your passport is valid for at least 6 more months beyond the dates of travel. Secure necessary visas well in advance.

● Safety Risks – Read travel advisories and warnings from government sites to be aware of any safety risks or scams targeting tourists. Learn some basic emergency phrases in the local language.

● Transportation – Research options for getting around the destination, whether it’s trains, metro, taxis, or ride shares. Know options for getting to and from the airport.

● Lodging – Book a hotel or Airbnb in advance. Look for accommodations in central, well-lit areas rather than isolated locations.

Have Realistic Expectations

No matter how well you’ve connected with someone online, recognize that in-person chemistry is not guaranteed. Try not to build up fantasies about your first meeting being perfect. Remind yourself that you’re still getting to know this person.

Keep a realistic mindset about how well your different personalities, communication styles, values, and quirks will mesh in person. Be open-minded but also listen to any hesitations or doubts you feel.

Don’t rush into major commitments too quickly. Make returning home an option if you decide during the trip that you’re ultimately incompatible.

Take Basic Safety Precautions

Use common sense safety precautions, especially when meeting someone for the first time who you connected with online. This includes:

● Initially meeting in a public place like a restaurant or cafe rather than a private location. Do not agree to meet at their home or hotel room until you are comfortable.

● Avoid sharing your full itinerary and hotel address. Provide general details of the area, but not specifics.

● Check-in with a friend or family member back home periodically. Give them your date’s name, phone number, and information.

● Use extra caution if your date wants to take you to an isolated or unfamiliar location. Decline invitations that seem risky.

● Do not accept drinks you did not see poured and do not leave your drink unattended.

● Trust your instincts. If you feel uneasy, uncomfortable, or threatened, remove yourself from the situation.

● Arrange your transportation or travel by taxi/ride share rather than relying on your date for transport.

Have a Backup Plan

No matter how carefully you prepare, things may not go perfectly according to plan. Your in-person chemistry may not live up to the online connection. Logistical problems or disagreements could arise. One or both of you may decide you are not a match.

This is why it’s crucial to have backup plans in place for where to stay and how to get around if
needed:

● Book refundable flights and hotels when possible so you can change plans if needed.

● Research alternatives for places to stay, even if just a hotel to spend the night until your return flight.

● Know how to get around independently via taxi, metro, rideshares, etc. Don’t rely solely on your date for transportation.

● Have enough cash on hand for backup hotels, meals, and transportation in case of disagreements.

● Let a friend or family member know where you will be staying and meet up with them if plans for your date drastically change.

Bridge Any Language Barriers

For maximum comfort and connection on your overseas first date, try to bridge language and communication gaps as much as possible.

● Use translation apps to communicate important logistics and information before the trip. Slowly build your proficiency in their language by practicing common phrases and exchanging voice messages.

● Learn key date phrases like “hello”, “nice to meet you”, and “thank you”, etc. in their native
language. Showing effort means a lot.

● Be patient and speak slowly. Use body language to aid understanding. Avoid using complex slang or phrases they may not understand.

● Clarify meanings frequently to avoid misunderstandings. Don’t rely on assumptions.

● Have the hotel address and other logistics written down in both languages to show taxis, etc. if needed?

Overcoming language and cultural barriers shows commitment and can deeply strengthen your bond. The effort fosters openness, patience, and adaptation skills that enrich relationships.

Budget Accordingly

The costs add up quickly when traveling overseas to meet someone, especially when two people are involved. Carefully factor these expenses into your budget:

● Flights – Roundtrip international flights can easily be $1000+ per person. Try to book early for deals. Consider cheaper regional airports.

● Travel Documents – Factor in visa application fees, passport renewals, etc. which can cost $200+ depending on country.

● Accommodations – Hotels for even a few nights can run $100+ per night, or $1000+ for two people for a week. Price Airbnbs accordingly as well.

● Meals – Estimate $40-60 per day per person for simple meals to get a daily budget.

● Getting Around – Budget for trains, taxis, metro rides, etc. to get to activities and dates.

● Activities/ Entertainment – Entrance fees for museums, shows, attractions, and dates can add up too. Allocate accordingly.

● Emergency Funds – Have at least $500 extra as a buffer for unexpected changes, hotels, and meals if plans fall through.

While exciting, international travel is expensive. Carefully manage finances to reduce stress, arguments over money, and unexpected shortfalls.

Understand Visa Rules

Before you book travel, carefully research the visa requirements for your passport and the length of stay in your destination country.

● If a tourist visa is needed, apply well in advance as the process can be lengthy. Don’t risk being denied entry after booking non-refundable tickets.

● Make sure your passport has 1-2 blank pages for visas and entry stamps. Renew early if needed.

● Abide by the authorized length of stay granted with your visa. Overstaying could lead to serious legal trouble or bans from the country.

● If planning a longer visit, research extended stay or partner visas that allow you to legally reside abroad if the relationship progresses.

Trying to circumvent visa rules is never recommended. Be sure to follow proper immigration procedures and be honest if questioned by border officials to avoid red flags in the system that could jeopardize future entries.

Experience the Destination Together

Don’t spend all your precious overseas time holed up in a hotel room. Take advantage of exploring the exciting new destination together with your international date. This allows you to get to know each other in fun, active settings while creating wonderful shared memories.

Make time for activities like:

● Take a walking or cycling tour to see key landmarks

● Visiting famous museums and appreciating the culture

● Trying local flavors and dishes at restaurants and food markets

● Seeing a concert, theatre performance, or dance show

● Hiking scenic nature trails or parks together

● Learning something new like cooking classes or language lessons

Blending cultural immersion with quality time together makes for a richer dating experience. It builds bonds based on shared interests and new horizons.

Traveling overseas for an international online date is an exciting adventure when done thoughtfully. While language and cultural barriers exist, they can foster understanding.

Preparation and research are key for smooth travel. Most importantly, trust your instincts and do
not take unnecessary risks safety-wise.

With realistic expectations, budgeting diligence, and embracing the unknown together, your first
meetup can flourish into lasting love fueled by the spirit of adventure.