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This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comI was going to call this article “a tale of national betrayal.” Sterling is a national disgrace. If ever there was something that symbolised the decline of Britain from world leader to tin pot sh*te show, it is our currency. The US dollar has lost at least 93% of its purchasing power since World War Two. The pound, which was a few cents shy of $5 at the onset of war and today sits at $1.24, has lost an additional 75% against the US dollar.It’s shocking. An appalling betrayal by successive leaderships. When you devalue your currency, you devalue your entire country: the people’s labour, their savings, their assets.As long-time readers will know, I have identified a long-term cycle in the pound, and the next capitulation is due this year. If this plays out, then the pound is about to hit the skids.Don’t get wedded to the idea of a cycleLet me start with my usual disclaimer: it’s easy to look back at the past, find some arbitrar