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Pittsburg, Kansas | My same questions that I have been asking for 8 years now. And any logical answer I can come up with says it does not end well.
You can read some of Rickards old stuff back over the years to see his ideas. In a nut shell he says countries will devalue in waves (not all countries at once - right now it looks like the Yen and Euro. Will probably be US turn after some rate hikes and a recession inmy opinion). Eventually the only thing left to devalue against willl be gold, after the SDR or some reincarnation of it is the last attempt at a global fiat currency for the soverign currencies to devalue against.
In reality, money is just a concept. Real assets are the only real wealth. Money only buys what people are willing to trade in the way of real assets for it.
I don't know if Rickards is right or not, but so far the countries taking turns devaluing looks on target over the last 8 years.
Do a search for his stuff if you are interested.
John | |
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Narrative bubble or credit bubble?
