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Degussa Goldhandel/Dr. Thorsten Polleit/2-27-2020
“That said, the lesson to learn is this: Fiat money – be it US dollar, euro, Chinese renminbi, British Pound, Swiss Franc, etc. – will most likely continue to lose its purchasing power over time. Some perhaps faster, some maybe less quickly. But people should be aware that fiat money is no reliable store of value. There might be a point in time when the fiat money system crashes altogether – for inflation is a policy that cannot last. However, we do not know when the death knell of the fiat money regime will ring. That said, the minimum advice is this: Do not entrust your life savings to fiat currency; and do not expect the crash too soon.”
USAGOLD note: As Gresham stated: “Bad money drives out good.” Or to put a contemporary spin on it: “Fiat drives gold into hiding” – a trend that progresses quietly even as you read this post. The Ed Stein illustration cleverly makes the point.