This year marks the 50th anniversary since Nixon suspended the convertibility of the USD into Gold. This began the era of a global fiat money debt-fueled economy. Since then, crises are more frequent but also shorter and always “solved” by adding more debt and more money printing. {chart} The suspension of the gold standard was a catalyst to trigger massive global credit expansion and cement the position of the US dollar as the world’s reserve currency as it de-facto substituted gold as the reserve for the main central banks. {chart} The gold standard supposed a limit to the monetary and fiscal voracity of ... (full story)