A Golden ‘Surprise’

Why are sophisticated market analysts so flustered over the fact that the gold value of the dollar, which has shed more than 98 percent of its value since the end of Bretton Woods, is collapsing?

AP/J. Scott Applewhite
The Federal Reserve at Washington in 2020. AP/J. Scott Applewhite

“Surprising,” the Wall Street Journal reports, is how analysts are describing the fiat dollar’s record low against the basis of monetary value, gold. “Quiet,” too, and “stealthy,” is how market watchers mark the dollar’s plunge, which has caught these financial experts “off guard,” the Journal says. No wonder that today’s inflation report shows prices, too, edging past analyst estimates — up 3.2 percent over last year, despite the Fed’s war on inflation.

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