I realize it is probably popular to be bearish now and thus becoming a tired old argument...
but at this juncture I guess I have to consider the possibility that the metals continuing to lose at the expense of crypto could become a more permanent phenomenon ? It has varied to some extent but at the end of the day week month and year it is the concentration of capital that determines the long term bull trend.
If Amazon.com starts accepting crypto, then where does that leave the metals.
I guess the metals will always be that disaster hedge that you keep in your basement. But if you cannot spend your gold on amazon.com, carry it with you to another country, or transfer it to someone across the globe in 2 seconds, then I can see how the millenials and new class of investors will just *not* be interested in it and thus harm long term demand for metals...
When the dollar begins to lose its reserve status( probably sooner than later), cryptos will go to zero.
What is to replace the dollar? Yuan?
I don't know! This is the purview of guys like Rckards and Armstrong.
I am thinking that reluctance to accept dollars without clear alternative will reduce global trade. The sort of thing that happened after GFC where banks stopped dealing with each other.
There is only one Japan that's indebted to itself. No one else wants others debt.
Edited by linrom1, 07 August 2021 - 09:57 AM.