The New York Sun/Editorial/4-28-2022
“The headline this morning atop the Drudge Report — ‘Dollar is King / Best Month in Decade‘ — certainly got our attention. It turns out to refer to a story in the Bloomberg in respect of how America’s fiat currency, which we call irredeemable electronic paper ticket money, compares to other fiat currencies like the yen, the euro, the won, the yuan, and other scrip. It is devoid of reference to the constitutional specie of gold or silver.”
USAGOLD note: The real measure of the dollar’s might is its long-term performance as a store of value. In that respect, its performance has been decidedly underwhelming. Says the Sun: “The dollar might well be king of today’s debased global currencies, but it wears a tin pot for a crown. We featured this editorial in yesterday’s DMR and repost it today for those who may have missed it.
