This episode is an interview with Marc de Mesel, who was previously on the show talking about investing in Europe. Marc runs a blog on investing in Europe in dutch and also an investing blog in english. In this episode, Marc talks about the hidden tax that is inflation. We discuss the difference between official inflation figures and the real loss of purchasing power that ordinary people experience. We also talk about ways in which an individual investor or saver can cope with inflation, including the advantages and limitations of precious metals as an inflation hedge. The discussion is opinion only and should not be considered any kind of financial advice. For more information about the concept of the permanent portfolio mentioned in the discussion, see Harry Browne's book "Fail-Safe Investing". You can also hear more about the Permanent Portfolio concept in this previous episode.