by Alasdair MacLeod
Gold Money
It is beginning to be obvious that global economic woes extend beyond covid lockdowns and that monetary inflation for the dollar, as the common foundation for other fiat currencies whose issuers face similar problems, will continue to accelerate.
Fiat currencies have only survived this long due to increased financialisation of the dollar and the US economy. Since the 1980s Wall Street has gradually dominated the US economy at the expense of Main Street. It has done so through monetary inflation, creating the conditions for the ultimate monetary collapse.