Kevin McElroy
1 min readApr 9, 2020

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This article tiptoes right through a pile of BS.

The dollar is not so strong. Any honest discussion about its strength would not plot it against other equally impaired assets, but would instead compare it to what it buys in the real world. How does the US dollar plot against, say, the cost of a week’s groceries, a mortgage payment, the cost of a car, university tuition — or perhaps most notably, a basket of commodities or even monetary metals?

I’ll tell you: it does extremely poorly. It fails to hold up half of the promise of what we all desire in a money, which is a store of value. The value stolen from earners and savers by inflation doesn’t just evaporate either: it ends up on the balance sheets of Boeing and General Dynamics and Goldman Sachs and Deutsche Bank.

Don’t carry water for those miscreants by pretending like the dollar is not a severely sick and corrupted asset.

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