Liberty and Finance: The Stock Market Peaked 25 Years Ago in Real Terms

In a recent compelling discussion with Liberty and Finance, renowned precious metals expert David Morgan peeled back the layers of apparent market prosperity, offering a stark warning that beneath the surface of robust nominal stock market indices lies a hidden, long-term erosion of real value. Morgan’s insights challenge conventional views, arguing that while the stock market appears strong on paper, its true performance since its 2000 peak has been dismal when measured against gold, the universal constant. Morgan articulated his concept of an “invisible crash,” a stealthy decline in purchasing power masked by relentless inflation and the systematic debasement of…