‘The end of the gold standard unleashed the most inflationary period ever’ – DB’s Jim Reid
Repost from 9-17-2021
“Sure enough, with the link to gold broken, Reid then goes on to note that ‘over the last half-century, we’ve seen the most inflationary period ever in the data series we have going back to the 13th century. So even though inflation has been tamer over the last decade, don’t be fooled that fiat money is anything other than inflationary through history.'”
USAGOLD note: Reid’s conclusions echo our own arrived at over the years. Our remedy is to put oneself on the gold standard through the ownership of coins and bullion to compensate for the deficiencies of the fiat money standard. The following chart supports Reid’s thesis. For regular readers it is a redundancy, but for those new to the idea of gold ownership, it might come as a revelation.
Chart courtesy of the St. Louis Federal Reserve [FRED], Bureau of Labor Statistics, the ICE Benchmark Administration