The Upside-Down World of Currency
By Alasdair Macleod
November 19, 2022
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The gap between fiat currency values and that of legal money, which is gold, has widened so that dollars retain only 2% of their pre-1970s value, and for sterling it is as little as 1%. Yet it is commonly averred that currency is money, and gold is irrelevant.
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At some stage, the inversion of monetary reality, where legal money is priced in fiat, will change. Instead of legal money being priced in fiat, fiat currencies will be priced in legal money. But that will be the death of the fiat swindle.
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Goldbugs have been predicting disaster since the 60’s when the welfare / warfare state went financially nuts.
It’s hard not to be a permanent-bear when the “facts” seem so obvious.
Nothing seems to wake up “We, The Sheeple” who are sleepwalking towards this economic disaster.
Look at modern day Japan that has a debt to GDP of 230%. The USA is 124%. This is pure insanity.
What can we tell future generations other than “sorry suckers; deal with it”?
What should we be telling people to do? Like Casandra, the Oracle at Delphi, who could see the future but couldn’t change it.
If I was advising a youngster, then it would be to study and live like the Amish. Buy land, do some farming, bury some bullion, get a cheap education, minimize your wants, and prepare for the hard times to come.
Success for your generation is: (1) ruthless financial discipline — no bad debt; (2) a life long interest in learning — education — a degree — they can’t take it away from you; (3) a NON-OFFSHORABLE white collar job in order to save big bux; (4) a blue collar skill for hard times — never saw a poor plumber; (5) one or more internet based businesses — your store is always open; (6) a free time hobby that generates income; and (7) a large will-maintained network of people who can “help” you.
Like the Amish!