Wednesday, May 1, 2013

The purchasing power of money has diminished very significantly


In general, I think that the purchasing power of money has diminished very significantly over the last ten, twenty, thirty years, and will continue to do so. So by being in cash and government bonds is not a protection against this depreciation in the value of money.

The central banks around the world gone the path of money printing and once you choose that path you’re in it, and you have to print more money.