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Contrary to the widely accepted narrative and excuses for its persistence, the reason punishing inflation exists is that we do not transact in real money. If you work for a living, try to save and invest, and pay for life’s expenses, you know that costs are getting far ahead of earnings and returns. This is because what is believed by most to be money is not, but mere currency.

The bottom line is that the medium of exchange upon which the economy operates has not only been devaluing for over 100 years but doing so at an accelerating rate. This is not a new phenomenon or unique to the US, but the plight of all fiat currencies throughout history. The following 90-second story sums up this simple, yet undeniable, fact well.

Video Length: 00:01:44

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