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The Money Illusion: What This Picasso Tells Us About the Dollar
With the purchase of Picasso's <em>Les Femmes d'Alger dans leur appartement</em> (Version O) for $179 million, the world was served up another piece of evidence that money has lost all value.
Some will argue that such a price is justified for such a one-of-a-kind object, but what is really going on is not that the value of art is increasing but that the value of the paper currencies being used to buy it is being destroyed by central banks who print trillions of dollars of money around the clock.
With the purchase of Picasso's <em>Les Femmes d'Alger dans leur appartement</em> (Version O) for $179 million, the world was served up another piece of evidence that money has lost all value.
Some will argue that such a price is justified for such a one-of-a-kind object, but what is really going on is not that the value of art is increasing but that the value of the paper currencies being used to buy it is being destroyed by central banks who print trillions of dollars of money around the clock.