It’s no surprise to readers of this site that metals are often worth more than fiat currency. Gold, silver, and other precious metals are known for their value. But sometimes fiat currency can’t even compete with zinc.
Our nation’s top financier had it correct 111 years ago: “Money is gold, and nothing else.” J.P. Morgan was convinced of this. Still, government agencies have schemed over the centuries to dismantle the gold standard.
Our guest commenter explains that, even though the Fed still holds gold, there was never a time when the dollar was less backed or less safe than now.
The dollar index is at 20-year highs. This has led to talk of the dollar getting “too strong,” even as some worry that a “post-dollar” world could be on the horizon.
What explains this dichotomy?
In a nutshell, it’s not so much that the dollar is “strong.” It’s just the cleanest dirty shirt in the laundry basket.
Peter Schiff and Santiago Capital CEO Brent Johnson got together on the Rebel Capitalist podcast to debate the trajectory of the dollar in 2022. Johnson is bullish on the dollar. Peter thinks the greenback is going to tank.
