PremiumLosing Fiat Faith: Western Currencies Are On A Path Of Secular & Permanent Debasement
This article is so good
it's for premium members only.
Does that sound like you?
PREMIUM
ONLY $30/MONTH
BILLED ANNUALLY OR $35 MONTHLY
All BASIC features, plus:
- Premium Articles: Dive into subscriber-only content, market analysis, and insights that keep you ahead of the game.
- Access to our Private X Account, The Market Ear analysis, and Newsquawk
- Ad-Free Experience: Enjoy an uninterrupted browsing experience.
PROFESSIONAL
ONLY $125/MONTH
BILLED ANNUALLY OR $150 MONTHLY
All PREMIUM features, plus:
- Research Catalog: Access to our constantly updated research database, via a private Dropbox account (including hedge fund letters, research reports and analyses from all the top Wall Street banks)
Authored by Simon White, Bloomberg macro strategist,
The Bank of England’s new lender-of-first-resort approach to monetary policy highlights how the dollar, the pound and other western fiat currencies are on a path of secular and permanent debasement.
Seldom are the arcana of central banking of great interest to a general audience. But now and again there are developments in this niche and monastic discipline that merit sitting up. The BOE is in the process of implementing a new system for reserves that will likely lead to greater balance-sheet deterioration and therefore further debasement of the currency. In the US the system is different, but the ultimate destination is poised to be the same, with the dollar’s real value continuing to be degraded.