Wells Fargo Exposes Truth on Fiat Currency


Jeff Berwick
Dollar Vigilante
July 11, 2013

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The cognitive dissonance about the dollar never fails to amaze me. People know in their bones that their dollars will be worth a lot less in the future… yet they continue to trust and cling to the dollar as a store of value. They invest in things denominated in dollars that pay interest well below the rate of inflation. Or they go for all out gambling in the stock market to have a hope of outpacing inflation enough to build a tiny bit of wealth to leave to their grandkids.

Commodities like copper with an industrial demand may fall in price — even drastically — in the midst of a global depression. But the 30% or so drop in the price of something like copper will be running hard against the US government’s need to inflate away the value of the US dollar by having the Fed create new money to buy up more and more government debt. Inflation tends to outpace falling prices due to falling demand. The folks at Wells Fargo understand this and seem to be trying to help clear up some of the public confusion.

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