Much better way to handle inflation would be to invest in index/diversified MF for long term. That has worked for long time. Atleast companies have some basis in reality on why they have some worth and why that worth will increase in future. Here if you want you can diversify to index of different countries if you want to prepare against hyperinflation. Even gold, unproductive or not, has long historical standing of being some store of value.
cryptos are few years old and unproven. Right now they are acting more as risk assets, they go down when we have risk off mode. So better gold than coins.
To repeat - gold/usd has dont nothing in last 10 years irrespective of dollar supply. So these things are more complex than they appear. Perma bears are dangerous people to listen to.
russia has pegged the ruble with gold. 1 gram of gold = 5000 roubles
Don’t know but definitely bullish for gold and ruble.
https://www.onmanorama.com/news/business/2022/04/08/pegged-to-gold–the-russian-ruble-bounces-back-.html
china and russia has been accumulating gold for a while.
Heck no, it’s the poor and middle class that are more responsible , it is even today. Just because free and cheap credit is available doesn’t mean people should be consuming, debt based consumption always leads to problem.
See this link it explains Sub prime mortgagees , collateralized debt obligation (CDO) and credit default swap problems. crisis of credit
I can’t argue with Keynesian economist that thinks intervention in free market is lot better than letting free markets heal by itself. Last 20 years we saw Keynesian policies only.
Nice info. Russia going back to the gold standard. Will it last ? It can all change as fast as it came. See the modern world experimented with gold standard for a while and then moved away from it. Will it again go back am not so sure.
Well I don’t expect the common man to understand the complex products the greedy corporations created which as it turned out even they didn’t understand. They sold the loans flouting even the basic checks of credit worthiness to the customer. They got the greedy credit rating corporations to rate absolute junk as AAA grade products. They gave themselves hefty bonuses as the economy was crumbling. The greed of the customer was way less compared to the greed of the free market corporations.
I wonder why the mighty free market corporations weren’t ready to take the fall but ran to the govt to save themselves using public money. Its very interesting to see them looking for Keynesian hands only when they are in trouble and otherwise extolling free market virtues.
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On March 25, the central bank said it would buy gold at a fixed price of 5,000 rubles ($52) a gram until June 30.