As bad as the fact that a Chinese government agency has likely created the virus, that’s nothing compared to how the US Federal Reserve will destroy cash.
As Milton Friedman sarcastically put it, ‘Nothing is so permanent as a temporary government program’. Let’s go back and listen to President Nixon’s hypocritical announcement to ‘temporarily’ cut the link between the dollar and gold in 1971.
Temporarily? That was forty-nine years ago! Mike Maloney observes about Nixon’s announcement: ‘We were supposed to go back to gold some time or another… It might be coming soon’.
Yes: it will come right after American cash becomes trash.