The Most Important Chart in the World - by Vincent Launay
The most important chart in the world - by Vincent Launay by auditless.eth633 🥝 • 2y • 0 views • 0 clicks | |
AI summary of the linked articleVincent Launay argues that fiat currencies lose value over time, so investors are turning to gold and Bitcoin as hedges against debasement. He says gold's roughly 80% rise in US dollars over five years reflects a weakening of the money rather than any change in gold itself. He cites a 2011 IMF paper on debt monetization and notes that central banks have been buying gold since Covid rather than US Treasuries. He concludes that choosing gold or Bitcoin is "ultimately, it's the same trade." | |
 Yup! This is now my favorite crypto topic. Namely that our money is so shit merely as a store of value, that we have to be constantly inventive to park our money in the next best asset scheme just so that, for example, some government agency isn‘t deluding it away. Basically you cab just invest by what you think will be usable as money by the time you need your investment. Will Apple be more money that the EUR? Or Bitcoin? Ethereum is used as a medium of exchange in many places already, and it‘s kept its value too. etc  Yeah, Lyn Alden's post was a great related one on this too. Crypto is fast becoming the most important macroeconomic vehicle. | |
Characters remaining: 10,000 comment guidelines | |
More from vincentlaunay.substack.com on Kiwi News | |