Debt Rattle February 12 2021
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VA
The whole article by Rickards was about the supposed inflation effect of repricing gold. I called BS and that’s what it has to do with gold.Zerosum:
You are missing the whole point!
If gold goes from $1,000 to $20,000, the value of gold hasn’t changed at all!
What has changed is the value of your dollars has dropped 95%! Where before you needed one $20 bill to buy something, now you now need $400 or twenty $20 bills! It is the paper that is worth less!
At that point nobody will accept your $400 but they will gladly take your gold, no questions asked!
WES
I can’t imagine why you would think that there would automatically be an increase in the price of everything just because the fed decides to raise the price of gold.Gold is not money. Its worth what people with money will pay for it. If the fed wants to pay $5000/oz for gold then I’m sure they’ll find a lot of sellers but I doubt it will effect the price of a suit.
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