The money sentences: “The fact is that the US, Europe, and the UK have been left behind in manufacturing, technology and communications. Take away the standard of living illusion created by welfare entitlements, and they badly lag China, South Korea, and Japan. The west is today’s submerging economies and rapidly descending into tomorrow’s third world.” From Alasdair Macleod at alasdairmacleod.substack.com:
Official narratives conceal the damage being done to everyone’s wealth, which is increasingly plundered. And the units of account are depreciating at an alarming rate as well. Just look at the purchasing power of the dollar, reflected in the value of real, legal money which is gold:
Since only 2016, by this measure it has lost 78% of its purchasing power for foreign holders. This is a far cry from the government’s own inflation statistics, slavishly followed by investors, economists, the media, and politicians alike. And because investors like to record their asset values in dollars or their own currencies, they are oblivious to this debasement. And consumers observe merely that prices are rising, not their currency declining which they would do well to understand.
In western financial circles it is commonly believed that America and her mighty dollar continues to rule the world. It is coming as a shock to investors’ subconscious awareness that this might no longer be true. It’s subconscious because booming gold, the declining dollar, and rising bond yields are poorly understood by fund managers incapable of escaping from a collective groupthink driven by an anointed elite. They are the victims of an intellectual entrenchment.
