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Napanee, Ontario | "Maybe one other thing is new. The entire world being on fiat currency, all debasing at the same time, with a simultaneous world wide currency failure. That would be new."
Yep, I think we discussed this before. Worldwide Weimar.
Independently, individual countries' economies experiencing this collapse and are worthless (deflation )relative to other economies, even though they have massive internal inflation. Capital takes flight and goes to another fiat.
But when all economies are engaged in this experience, capital takes flight and leaves all fiats for tangibles. Deflation of fiats relative to tangibles, even with massive internal inflation of all fiats.
That was the understanding I got from that article you posted a while back anyhow.
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The 4.5 trillion dollar balance sheet. Continued QE
