4 ms·
Markets aren't sticking with fiat currencies, they're buying up stocks like there's no tomorrow. Asset inflation is a very real thing.
by viklove 6y ago
Markets aren't sticking with fiat currencies, they're buying up stocks like there's no tomorrow. Asset inflation is a very real thing.
- danenania 6y agoI agree that asset inflation is an inevitable consequence of money supply expansion. I just don’t see any indication that we’re headed toward a fiat collapse. Markets might not be choosing fiat currency for a store of value, but they’re still apparently choosing it for a medium of exchange.
- viklove 6y agoThey're not "choosing" it, it's literally their only option. If I want to trade my ETH to GME shares, I have to convert it to USD in between. What this will do is erode faith in the USD. If demand for cryptos, for example, stays the same, but suddenly everyone has more $$$ to throw around, crypto will keep skyrocketing in value while the USD buys less and less of the things people actually need. At that point there will be runaway demand for crypto because people will start "believing" it's more stable than the USD.
- danenania 6y agoYeah, that’s my point: it’s the only option, except maybe for gold. And gold is only going up a little. So how could fiat currency be collapsing? Crypto may be seen as an alternative in the future, but right now it’s all over the map. No one is using it for their savings account (or checking account, for that matter).
- viklove 6y agoWhere can I buy stocks for gold? Honestly though, a crypto-based brokerage probably isn't too far off. Might even be a billion dollar idea.