A bit of history can be fun…and helpful. This is the story of a rich man who gave away so much of his wealth (gold) that he collapsed an economy (Egypt).
The man was Mansa of Mail 700 years ago, and his wealth was estimated almost twice that of Elon Musk’s wealth today.
In those days, gold was the reserve currency, like the USD is today, and too much of it in the market caused 20% inflation, collapsing the economy. It took 12 years for Cairo’s market to recover. Enjoy the full story here.
Some say Mali’s apparent act of grandeur was in fact deliberate sabotage.
Does history repeat?
Since 2020, the US, Australia and other governments have propped up their economies by printing trillions, inflation is hurting, and Elon Musk has been giving away millions like it’s spare change.
Are these signs of the start of the demise of the USD and its empire? And if so, is it being demolished deliberately?
Unlike in Mansa’s time, today gold is not the reserve currency and so not the cause of the collapse. Rather gold is seen increasingly by people and governments alike as a safe haven for protection against uncertain financial times.
