Gold’s Rise, Dollar’s Plunge: A Monetary Crisis 55 Years in the Making

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“The era of monetary unification under the mighty dollar…and the global acceptance of American financial leadership is effectively over, as a growing number of nations are actively questioning whether anchoring their reserves, trade settlement systems, and financial sovereignty to the dollar and to the political leadership of the US still serves their long-term interests,” Grass, an independent Switzerland-based precious metals advisor, explained.

The dollar’s debasement is not new and has been underway “for decades,” the expert stressed, pointing out that the currency “has lost over 99% of its purchasing power since 1971, when the last link to monetary discipline and sound money was severed” and the US quit the gold standard.

“This decades-long and persistent currency debasement has destroyed price signals, it severely punished savers and long-term, responsible investors, while also massively redistributed wealth, making the poor poorer and the rich richer,” Grass said.

Gold, meanwhile, is enjoying a historic surge “because the entire system is fracturing simultaneously,” and trust in sovereign debt “and the ability of central banks to keep using the same old ‘cures’ to save the economy” plummets, together with “faith in the so-called ‘rules-based global order’,” the observer emphasized.