Thursday, 12 November 2015

Chart of The Day: How Norges Bank Defaulted on Key Mandate

* Norges Bank is Norway's central bank.


A short history lesson: After the last remaining link to gold was abandoned in 1971 (and the krone became paper money backed by absolutely nothing, i.e. fiat money), the Norwegian krone's value has collapsed compared to gold due to the tremendous increase in the money supply (the quantity of fiat money) orchestrated by Norges Bank, the government and (absent) regulators ever since.

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