Currency Devaluation | Then and Now
The devaluation of money has been the driving force behind the collapse of great empires throughout history.
Be it coin clipping in the days of the Roman Empire, alloyed metals in the Feudal period, or limitless printing and fractional reserve lending in this modern episode, the egregor of greed has been the downfall of many great nations.
Scarcity of money can be enforced by rules of public consensus, or physical laws of nature. Currencies without scarcity have a short shelf life of approximately 50 years. The US dollar left the gold standard in 1971, abandoning its anchorage to reality. Since then, the military dominance of the USA has been the soul enforcement of its dollar´s perceived value. Today, this once-unrivalled superpower is on its last legs. It is buckling under the weight of its debt and an economy of insufficient productivity to satiate its consumption and outrageous military expenditure. Meanwhile, other superpowers rise to fill the growing void of power of our new multi-polar world.
Contemplations on economic analysis
The “cost” of the above commodities has risen significantly since the dollar entered hyperinflation. However, we ought to look at this another way. In the case of commodities, bound to laws of scarcity, one equals one. There is no difference between an ounce of gold today and an ounce of gold tomorrow. The inconsistency is not the commodity, but rather the metric of value we´re measuring it with.
If we measure a distance with a shrinking ruler, we may believe that it is the distance which is growing. Do you see the perversion? The dollar, unbound in its multiplication by any laws of scarcity, is the variable which is changing. The result is economic instability and prices which ultimately rise.
The value of attention and creative energy
The illusion is falling, and along with it all its dependents. The devaluation of the dollar was set into motion in 1971, but it is us living today who will endure the consequences. The collapse does not hang on a matter of if, but a matter of when and how that will look. Therefore, let us not be paralyzed by fear. Over-analysis takes away from action. We have time to prepare, but no time to waste.
Attention is the allocator of our creative energy, and it is through creativity that we will adapt to whichever circumstances we find ourselves in. This is what our species does best. If we are to preserve humanity´s progress, we must invest our attention on things that matter most. Food, water, shelter, energy, community, self-defense, medicine, and sound money are all foundational to our prosperity.
Our attention is the most valuable commodity of all. To what will you give yours?