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Life In A Sound-Money World
Authored by John Rubino via Substack,
Pretend, for a moment, that it’s 1971 and you’re President Richard Nixon (admittedly disturbing fantasies, but bear with me). You face the perennial government income/outflow dilemmas, and other countries, noting your struggle, are trying to cash their dollars in for your limited pile of gold bars.
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If the markets wanted to go where the governments wanted them to go, then the governments wouldn't need to be involved in the first place.