Comment by nradov
4 hours ago
Your comment makes no sense. There's no need for a larger money supply. The current situation is sensible (at least to anyone who understands basic finance).
4 hours ago
Your comment makes no sense. There's no need for a larger money supply. The current situation is sensible (at least to anyone who understands basic finance).
I'm not saying there's need for a larger monetary supply. I'm saying that the world economy's 'value' is heavily driven by financialization, which is increasingly disconnected from reality, even more so as governments have gradually descended to 'stock market = economy' which leads directly to Goodhart's Law, and will eventually culminate in a 'correction.'
So for instance yeah the US only has about 1PE (Peak Elon) of gold, but the entire global level of US reserves are only about 5PE!
So what. The amount of physical gold held by the USA (or any other country) is almost entirely irrelevant to the real economy. It's a pointless relic of the past. We could sell off all of our gold so that people could make jewelry out of it and nothing would change.