Since 2008, central banks around the world have been aggressively expanding their fiat monetary base (aka money printing).
The data from the chart below is staggering!
What it means is that over the course of these 11 years, the fiat monetary base has been inflated by 21.9% ANNUALLY. 😲
Whereas, over the same period of time, the amount of new gold extracted from the ground has only inflated the gold base by a bit less than 2% annually.
Good thing central banks can't print gold. 😉
Photo credit: Stephen Bayer