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The COVID-19 pandemic led to a significant increase in prices due to the Federal Reserve printing more money, which devalued the purchasing power of the dollar.

The abandonment of the gold standard during World War I allowed countries to print money to fund the war, which would not have been possible if they adhered to gold's discipline. This shift marked the beginning of the end for Europe's dominance.

Asset prices rise not because of increased productivity but due to more money being printed, leading to speculative behavior.

In 1971, America came off the gold standard due to excessive spending on the Vietnam War and President Johnson's welfare programs. This led to a situation where the US didn't have enough gold to back the dollars it had printed.

Robert Hayworth suggests that the current gold rally is driven by speculation, not central bank purchases. Speculators are pushing up prices through ETFs and futures, similar to trends seen in AI and Bitcoin.

The COVID-19 pandemic led to increased money printing, which devalued the dollar and increased the cost of living.

Salaries have been rising consistently, but when measured in gold, they've actually been falling since 1970. This suggests that in terms of stable value, we're earning less than ever before.

Dominic Frisby explains that the reason things are more expensive today than in the past is due to the lack of constraints on money creation. He highlights that prices in the UK have increased twice as much as in the US because the pound has been roughly twice as weak as the US dollar.

When gold was money, the only way to create cash was by mining gold, a dangerous and expensive endeavor. Now, with no gold standard, money can be created through various means, such as printing money and issuing debt.

The government can increase the number of dollars in existence with the click of a button, devaluing the dollar you just worked for. This leads to a decrease in purchasing power over time.