Brace Yourself: The Perfect Storm of Crises is Converging in 2023
The comments below are an edited and abridged synopsis of an article by Nick Giambruno
Severe crises are brewing on multiple fronts and converging. This will be a pivotal year, because rampant currency debasement is an unstoppable investment trend you can bet on in 2023.
This trend rests on the biggest distortion in the history of financial markets and the global economy. The unwinding of this distortion is inevitable, and now it’s imminent. The distortion? Most humans do not know what good money is.
Money is a good. That’s not a complex notion to grasp. It doesn’t require the understanding of convoluted math formulas and complicated theories, as those in academia, media and government mislead many into believing.
Understanding money is intuitive and straightforward. Money is simply something useful for storing and exchanging value. Money is a claim on human time, like stored life or energy.
Today, most of us accept whatever worthless digital/paper scrips our governments give us. Money doesn’t need to come from the government. That’s something the average person has been tricked into believing.
Those entrusting government currencies with their life savings will soon experience a harsh economic reality check as this longstanding delusion gives in to reality, like the one former Soviet citizens received as communism crumbled.
This trend of rampant currency debasement is already in motion, accelerating and unstoppable.
Charts (included) show that half of the world’s population lives in countries with double-digit inflation, but the actual number is even higher.
Many consider the US dollar the best of all the fiat currencies. However, even according to official statistics that understate reality, the dollar is shedding 7—8% of its purchasing power each year.
The means everyone holding dollars will lose 50% of their purchasing power every nine years—and that’s the best case scenario. Those holding other fiat currencies will see their purchasing power melt away even faster.