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Yes, it's incredibly odd. Most US large ETFs and crypto have basically been in lockstep for much of the last few years. Same with housing, delayed a bit. It see
by ralusek 3y ago
Yes, it's incredibly odd. Most US large ETFs and crypto have basically been in lockstep for much of the last few years. Same with housing, delayed a bit. It seems to indicate that that we're seeing when we look at the price of these assets is largely just a map of inflation rather than a substantial increase in value (i.e. just a graph of non-USD assets going up in terms of USD as real value of USD decreases). The easiest thing to check against, though, is gold, which has barely budged in comparison. Metals are not moving in lockstep. Given inflation, and the uncertainty at the beginning of COVID, you would've really expected something there. Genuinely don't get it.
- sfjailbird 3y agoThere are whisperings in the investment community that the market is manipulated. Almost all gold trading is ETFs, and their gold holdings are managed by a chain of custodians several layers deep, none of which conduct public audits. The terms of the ETFs make it clear that they are completely absolved from any risks and responsibility for the holdings. At the same time, the practice of leasing out the gold in the vaults is well documented, so it is impossible to know who (or how many) 'own' a given gold bar at any given time. The industry could counter these misgivings, by making the holdings publicly auditable, but chooses not to.
- pakitan 3y agoS&P is up 4 times since its low in 2002. Gold is up 6 times since 2000. And you call that "barely budged"?
- csomar 3y agoPrices went up a lot following 2020 (way above the inflation numbers). I think they are finding a new spot around the inflation numbers (maybe a bit higher but not too much).