Imagine working 9 to 5 for 50 years, then watching the Federal Reserve create 40% of the money supply and erase the purchasing power of 20 years of your labor.
You don’t have to imagine it. The COVID mass psychosis gave us a preview as governments across the world unleashed a frenzy of currency debasement.
I have no doubt that the next episode will cause greater damage—and devastate most people.
The US government continues to debase the dollar at a staggering pace.
Independent analysts estimate that the US dollar has lost 10% of its purchasing power per year in recent years.
At that rate, anyone who holds US dollars loses half of their purchasing power every seven years.
The dollar has had no gold backing since 1971. This pure fiat system gives the US government the power to debase the currency to finance itself.
The government has exercised that power at an accelerating rate. The money supply has exploded in recent decades. In recent years, its growth has turned parabolic.
The US money supply has expanded over 32-fold since 1971.
