This is an insane chart. 80% of all dollars were created in the last 5 years. The end of Western Keynesianism will be even bigger than the end of Soviet Communism.
They’re just going to destroy every Western fiat ledger. Anything stored on any fiat ledger, from currencies to stocks to bonds, will be first exorbitantly taxed and eventually simply seized. Or simply inflated to zero. That is the logic of the sovereign debt crisis. — Balaji (@balajis) January 11, 2026 I love the smell of …