Skol,
FED has printed in less than a year what chinese's had accumulated in last 20 years of hard work.
Why is it that I have to work hard for whole year to get what i earn whereas govs can print multiples in just a flip?
This is the problem with fiat currency, the temptation to print without any real productivity/gdp growth to meet entitlements/bailouts/stimulus is just too great.
It is not just US but a worldwide fiat currency devaluation happening currently, every gov is in it equally.
No matter how much we would like to blame natural phenomenon for essential items price increases, most of it it due to plain and simple excess money printing.
this doesnot mean we will start using gold in every day transaction but gold/silver has a very high probablity to play a monetary role in near future by providing backing to currency in some form. This backing will act as a break to central banks ability to print willy nilly.
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