Bloomberg/Merryn Somerset Webb/1-15-2023
“The answer, of course, was that it depends what one means by survive. Carry on for many more decades under the same names of dollars, pounds, euros, etc.? Sure. Do so without losing purchasing power? Not a hope. Even inflation at 2% each year halves the value of your money in 36 years.”
USAGOLD note: Webb says the market has “kneecapped” the idea of cryptocurrency rivaling gold and says if you want to own gold, you will need to buy gold.”That being the case,” she adds,” the question is not have you too much, but have you enough — the very same question the head of the PBoC is clearly asking himself right now.”
