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There is the interesting history of Mansa Musa whose lavish spending of gold caused a recession. So it's not like gold is an absolutely safe asset either. It's
by galaxyLogic 5y ago
There is the interesting history of Mansa Musa whose lavish spending of gold caused a recession. So it's not like gold is an absolutely safe asset either. It's possible we will find much more gold in Earth's mantle or on some asteroids. Then what?
https://en.wikipedia.org/wiki/Mansa_Musa#Islam_and_pilgrimage_to_Mecca https://en.wikipedia.org/wiki/Mansa_Musa#Islam_and_pilgrimag...
- spiralx 5y agoEurope had the Great Bullion Famine in the 15th century causing deflation across the continent, which was ended by the Spanish flooding Europe with gold from the Americas, causing massive inflation instead. https://en.wikipedia.org/wiki/Great_Bullion_Famine https://en.wikipedia.org/wiki/Great_Bullion_Famine A long period of deflation followed by a long period of over-inflation doesn't scream stability to me.