Designed yes. But that doesn’t guaratee it will work as designed. I’m much less convinced now of that than I was 4 years ago.

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What’s changed?

My conviction has changed. The more I think about it the more I see the possibility for decades of crab walk through the process of 10000 small cuts.

I hope I’m very wrong.

But what will happen to fiat during that time? Massive debasement, inflation, collapse is my guess.

I’m not ALL gloom and doom though, just less certain.