| Gold is now the second largest reserve currency, behind the US dollar. To understand why, you need to look at the history of fiat currencies (like the dollar) and hard currencies (like gold). The way I see it, we’re currently facing a classic currency devaluation similar to what we saw in the 1970s or the 1930s. In both of those cases, fiat currencies around the world all went down together — and also went down in relationship to hard currencies, like gold. If events today follow a similar pattern, that makes hard currencies an attractive asset to hold. At least, that’s how it looks through my eyes. I’m curious to hear what you think. You can watch the full conversation here: ?feature=shared |
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