Maybe it’s because since 2009, his wealth has been manufactured by the Fed because of their (almost religious) use of Modern Monetary Theory (MMT).<\/p>\n
And it was that religious zeal that exposed their biggest flaw… that MMT will never cause inflation.<\/p>\n
It missed how us uncivilized people will ultimately react as we watch our earnings and savings lose more and more buying power.<\/p>\n
Gold Is Rising Because It’s Real Money<\/h2>\n
We uncivilized people need gold… and so will Chuck.<\/p>\n
Yes, there are other ways to hedge against inflation. But ultimately, people can’t exchange their stocks, cars, and homes for things like gas, food, and clothing. <\/p>\n
Gold is the only form of money that exists in the physical<\/em> world that they can’t erode through their new-found economic religion.<\/p>\n It’s the diehard belief that you can print money, give it away for free, and steal from the future to keep the party going…<\/p>\n That’s exactly what the Fed did. They stole from 2022 to pay for 2020 – not borrow, but outright theft.<\/p>\n Except that theft will likely last longer than just 2022.<\/p>\n Inflation is as much behavioral as it is simply watching prices rise and hoping for the best.<\/p>\n When we start sensing that our institutions are failing us – confirmed by prices that are getting out of control – we start to look back at all the failed experiments of prior regimes, political waves, and economic thought and want something timeless.<\/p>\n Most economic theory (like MMT) misses this very simple point – that when that breaking point occurs, inflation starts to feed on itself.<\/p>\n It’s why economics is really just a practice in common sense… the good economists have it, the bad ones don’t.<\/p>\n At the end of the day, economic theory is just a collection of circumstantial evidence masquerading as statistical fact. <\/p>\n Which brings me to why I feel calm…<\/p>\n
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