¹) https://de.wikipedia.org/wiki/Deutsche_Goldreserven#Diskussi...
He largely put that group in place in the executive and the judiciary.
It's a lot more than "a single president". It's the two thirds of American voters who either voted for him or couldn't be bothered to vote against him, even after having seen how he behaved in his first term.
That's why he's not the biggest problem. He's more of a symptom than a cause. He won't be around for ever, but even after he's gone, most of those same people will still be around.
Without populism, he'd have nothing.
It's true that he 'duped' them, but we're all duped on some level.
Is it possible that we're not actually that resilient, but instead it will just take tens of years for the damage to fully manifest?
That's why farmers vote for politicians and policy that put them out of business. In my hometown, the county went from 150 dairy farms in 1990 to 3. They voted to keep their guns or whatever bullshit they were told to worry about, and were wiped off the map by the deregulation they "wanted". My little town is a rural ghetto, the richest people in town now are the school principal and state trooper.
POTUS is an acute condition. The sickness lay deeper.
What's happening is a much simpler, more drastic concern: does the US respect its international commitments?
Since then, it flip-flopped on the Paris Agreement, single-handedly put tariffs on goods imported from literally every single country in the world, withdrew from WHO and so on and so on.
Not only does the US not respect the commitments it already agreed to, it hasn't done so for the past 10 or years.
These commitments were commitments by the administration in the White House at that time. They were not accords or treaties ratified by Congress. Agree with them or don't, they should have been understood as what they were: limited in legitimacy and free to be canceled by the next administration with no discussion.
This isn't a matter of arcane political skullduggery, it's spelled out in the US Constitution's definition of treaty, Article II, Section 2, Clause 2. The people were not formally heard.
Not just the US: a lot of countries implemented stimulus packages to get their economy going post-COVID.
The inflation of these programs was unexpected/predicted:
* https://www.piie.com/blogs/realtime-economic-issues-watch/in...
I think it's also worth noting that a lot of people have 'forgotten' other factors happening besides stimulus and monetary (central bank) policy—especially when it comes to energy and food prices:
* https://en.wikipedia.org/wiki/2022_Russian_invasion_of_Ukrai...
If countries enter the lunatic phase of money printing you never quite know what they're going to do next. But it probably isn't going to be good for asset owners and it may well already be too late to get things out of well known vaults. Better to be a bit early.