Silver Shortages Are Here and Gold Scarcity Is Coming
The comments below are an edited and abridged synopsis of an article by Egon von Greyerz
Modern Monetary Theory (MMT) is a socialist’s dream, but a more appropriate name would be More Money Theory, because MMT is just a fancy moniker to justify more money printing, more deficits and more debts. Socialists love MMT because for a sovereign nation, it justifies constantly living above your means.
This is of course nothing new for the US, which has practiced MMT for almost 70 years. Not since the early 1960s has the US had a real budget surplus. Europe has had socialist governments for decades, but for the US it is a relatively new phenomenon. Alexandria Ocasio-Cortez has now picked up the baton from Krugman, arguing that socialism and deficit spending are the solutions to not only America’s problems, but the world’s.
Up for discussion: US uber-spending; false money leads to false values; real GDP growth has been negative since 2000; fraud of the highest degree; gold in US dollars will soon break the Maginot Line; gold is eternal money; the EU is desperate; a final hurrah and a global crisis.