“In 50 years of unbacked paper money, central banks have proved that the one thing they are capable of, is in fact not to maintain the value of the currency, but to devalue it to almost nothing while keeping its users in the dark. The “no inflation”-lie, must still be one of the best magic tricks ever performed in modern history.” From the memo Dawn of the supercycle from 2021.  This observation from 2021 has proven prescient as we examine the current commodity supercycle. While it might look like inflation is...