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Krugman argues that there’s a special nature to the bond-gold relationship but I would argue that it’s because gold is an asset of last resort. The only thing s
by awinder 6y ago
Krugman argues that there’s a special nature to the bond-gold relationship but I would argue that it’s because gold is an asset of last resort. The only thing special is that bonds have typically been an asset of last resort, but governments have sort-of taken them off the table in crisis situations.
- daodedickinson 6y agoAssets of last resort include things like water, food, air...
- imtringued 6y agoI can see how someone might invest in a personal water tank or food pantry but what exactly are you going to do to prevent people from breathing oxygen that was released by your trees?