This is what happens when the dollar is backed by “the full faith and credit of the United States” and not the barbarous relic. Nixon abandons gold in 1971 and inflation launches skyward. It’s hard to believe that for most of the history of the United States inflation was next to 0%.
Tag Archives: fiat
How About a Free Market in Interest Rates? (The most important prices of all.)
“The problem is the fiat world should end as well then.” – Rick Santelli
The Market (or More Precisely the Participants in World Markets) Can’t Handle the Truth
“How did you go bankrupt?”
Two ways. Gradually, then suddenly.”
― Ernest Hemingway, The Sun Also Rises
For 35 years we have witnessed the slow disintegration of the world economic system. The 2008 Crash represented our entrance into the acute stage of this fiat driven disintegration. We may enter the critical stage in the relatively near future. The attached report from Myrmikam Capital discusses this.
