When the Nixon administration ended the dollar's ties to gold, it was yet another sad chapter in the US government's abuse of its currency. And the government learned nothing.
Development economists often confuse natural resources with wealth and then are puzzled when countries rich in resources experience widespread poverty. Free markets lead to creation of wealth, period.
During May 2022, year-over-year (YOY) growth in the money supply was at 6.97 percent. That's down from April's rate of 7.25 percent, and down from May 2021's rate of 15.4 percent. The growth rate peaked in February 2021 at 23.12 percent.
