Part 8/15:
The House of Cards Crumbles—Why Fiat Will Never Save You
Livingston dives into the mechanics of fiat currency and inflation, illustrating how every dollar steadily loses its value—2% inflation isn't just a "mild" cost but a death sentence for savings. Since Nixon disconnected the dollar from gold, the system has operated on trust and debt, leading to stagnant real wages, surging costs, and a never-ending devaluation strategy.
He vividly compares the system to a carnival shell game, where the illusion of progress is maintained while the dollar's value erodes. The Federal Reserve's policies are mockingly described as "monetary eugenics"—deliberate asset stripping dressed up as economic management—making genuine reform or recovery impossible within the current framework.