No. of Recommendations: 15
Gold is now at $4054 per troy oz ... Bitcoin is over $123K USD.
These are not prices based on presumed inflation, but rather on the implied threat to the value of the USD that a bond default would inflict.
Well, maybe, maybe not.
Like most disinterested observers, I would agree that the legislative/regulatory/customary systems underpinning the US dollar are not as trusted as they were.
But these price moves are also easily explained as simple bubble/momentum/FOMO exuberance. Rationality goes out the window when you see your neighbour making a lot of money without effort.
Jim
