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You can call it emotionally driven, but if it’s taken as a fact that the dollar is and will continue to lose value ( and the president is incentivized to pump t
by jazzyjackson 9mo ago
You can call it emotionally driven, but if it’s taken as a fact that the dollar is and will continue to lose value ( and the president is incentivized to pump the price of Bitcoin, whatever level of hell/episode of Mr Robot that is) - then you should expect gold to go up infinitely, relative to a worthless dollar. People aren’t necessarily trading out of fear, just trying to predict the future.
- pqtyw 9mo agoHow would you explain the price of gold between 1980 and 2000, then? It's price collapsed, was there no inflation back then?
- pfannkuchen 9mo agoBut the perception of future worthlessness of the dollar cannot actually make the dollar worthless. It doesn't work like that. In a theoretical scenario where there are many competing substitutable currencies it should work like that, but we are not in that theoretical scenario, are we?