Nice read Glen.
Surely the 'money' has to go somewhere though, it's only paper that is becoming worthless - no more gold or bitcoin has been produced out of thin air?
You are viewing a single comment's thread from:
Nice read Glen.
Surely the 'money' has to go somewhere though, it's only paper that is becoming worthless - no more gold or bitcoin has been produced out of thin air?
Hey, @abh12345.
That's one of the things I've never entirely understood about investments. It certainly seems like the money should go somewhere. Unless it's spent on necessities, as in living expenses, while all of this is happening. That I could see. People who end up with worthless shares or units of something that no one wants to ever buy into again would lose, too.
It obviously depends on what people have done. If they bought low and held, it might not be such a big deal. People coming in at 30,000 for BTC might have a greater problem than those who bought in at $1,000 if they want to hodl. Although, crypto seems to weather this much better than other sectors if Dent is at all right about this.
From what I get from it, gold and Bitcoin come back sometime after the bottom in 2022-2023. Bitcoin and altcoins that survive in particular potentially become the new gold standard.
It's just in a deflationary state, which we're supposed to be in and why the central banks have been pumping, neither are havens against that.
EDIT
re: worthless paper
He did say in a different interview, in a pretty offhanded comment, that the dollar won't be around in 30 years, which is why going into U.S. treasury bonds for just two out of the 30 years was good to do. After that, who knows what happens to the dollar.
Not the expert. Just the messenger. :)
That's what I was hoping to hear :) I don't see Fiat lasting more than a few more decades, and why invent the wheel - BTC and co are here. Ahh, yes, there is a reason to re-invent the wheel - 'they' were late to the party and wish to have their own digital currency.
Interesting times ahead for sure.
Posted Using LeoFinance Beta