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- cross-posted to:
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The TL;DR is that gold prices spiking is a major sign that people are completely losing faith in the dollar, and are attempting to buy assets that will hold value better. People expect major inflation, and are attempting to buy gold (which will hopefully hold its value) instead of keeping all of their funds as dollars (which will lose value when inflation happens). But this sudden surge in gold demand has caused the recent price of gold to drastically spike.
Probably goes beyond just the US dollar; there are plenty of other stable currencies. The issue is we’re staring down a devastating global economic collapse due to AI over investment.
People trading their Stablecoin for Bitcoin
Bitcoin a.k.a. “You will own nothing and you will be happy”.
Gold has dropped $1000/oz (or 800USD) since March
Yes, which is telling a lot about chips stocks. Also zoom out.
Thanks for sharing economics 101.
Maybe, but look at all the other months: https://portfolioslab.com/tools/stock-comparison/SGOL/SOXX
Why is this in technology? John Maynard Keynes called gold a “barbarous relic”.
If only there been any connection between technology and chips. One can wonder.
