Fiat currency is “funny money.” It’s backed by nothing and has provided a frail and failing support for spendthrift governments worldwide for years, and particularly in the current post-financial crisis era, from which Middle America still hasn’t truly recovered. Central banks have collectively purchased $13 trillion of increasingly worthless paper assets since 2008 – an outstanding con job, even by criminal syndicate standards.
The responsibility for hard-working Americans to mitigate the uncertainty of what could literally be decades of hard work stored in bank accounts that could erode in short order is something that should not be taken lightly.
While the United States Federal Reserve is a king amongst thieves, it’s certainly not the sole culprit in what’s best described as a global Ponzi scheme, or perhaps a massive game of kick-the-can in which the can contains our hopes, dreams, and financial future:
For the middle class, whose fiat currency has been over-printed into near worthlessness, this grand experiment has been an out-and-out disaster. For institutions and wealthy individuals who own massive amounts of stocks, however, it’s been a blast: QE has been a resounding success in terms of propping up the indices and ensuring their continued divorce from fundamentals, news, and reality itself:
While taxes are overt and direct, inflation is stealthy.
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The global economy is rolling over, but it’s no matter because central banks can always go back to the QE well, and with the President demanding that the Federal Reserve “drop rates” and fuel the equity “rocket ship” with another round of easing, QE4 is underway and the American public will, of course, pay the tab.
Indeed, governments and central banks are selling the grand fiat scheme once again – but after a decade of fiscal indiscipline, not everyone’s buying it. World powers, including Russia and China, have been divesting themselves of deteriorating American paper assets and loading up on precious metals in anticipation of QE4’s decimation of the U.S. dollar and all that it represents.
The numbers tell a before-and-after tale that’s a real eye opener: in the decade prior to the financial crisis, the aggregate global investment in physical gold was 3,965 metric tons, and for silver it was 15,300 metric tons. In contrast, the post-crisis decade saw those figures quadruple, with a total global investment of 16,200 metric tons of physical gold and 57,800 metric tons of silver:
Wary governments and sophisticated investors are gearing up for fiat’s final days with a position in the ultimate safe haven assets and the oldest tangible form of money known to modern civilization: precious metals, which history has proven to be a terrific crisis hedge, as well as a solid store of value when the “funny money” charade isn’t so funny anymore.
Gold and silver are not the only way to stick it to the government’s fiat crusade: cryptocurrency is another anti-inflation, anti-intervention ecosystem that’s by the people and for the people, not the fat cats in the banking cartel.
Cryptocurrency isn’t exactly the same as gold and silver, mind you – it’s a relatively new technology, and hesitant governments, including the U.S. and China, will spread FUD (fear, uncertainty, and doubt) as they grapple with the disruptive potential of digital ledger technology.
Seeing Bitcoin materially over $5,000 is a strong sign that while many have disregarded it in 2018, it’s here to stay and the main stream is being reminded about this in a very big way.
But buy-ins from fearful fiat peddlers aren’t our concern; much more importantly, we’ve been on the right side of the trade, having been in Bitcoin since it was trading at $11. We’ve been through the ups and downs of the crypto and blockchain revolution, and we believe in this new monetary system long-term.
Chief Editor, CrushTheStreet.com
Governments Have Amassed ungodly Debt Piles and Have Promised Retirees Unreasonable Amounts of Entitlements, Not In Line with Income Tax Collections. The House of Cards Is Set To Be Worse than 2008! Rising Interest Rates Can Topple The Fiat Monetary Structure, Leaving Investors with Less Than Half of Their Equity Intact!
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