Gold = the constant
Currency = the variable
Discussion
even Wall Street agrees:
JP Morgan calls it The Debasement Trade.
governments print
central banks buy gold
debt explodes
confidence erodes
alarm bells ring
why do empires fall?
* Governments spend beyond means
* Borrow more
* Central banks print money
* Currency weakens
* Elites buy hard assets
* Middle class savings vanish
* System resets
it’s math — not luck.
why do empires fall?
* Governments spend beyond means
* Borrow more
* Central banks print money
* Currency weakens
* Elites buy hard assets
* Middle class savings vanish
* System resets
it’s math. not luck.
and there's a name for who wins:
those closest to the money printer.
Rome’s generals
France’s financiers
Britain’s bankers
TODAY’s CENTRAL BANKS and INSTITUTIONS.