My theory is this got kickstarted when we and the EU seized Russian assets, assets denominated in dollars.  Nation states took notice, and adjusted towards holding gold.  It’s a store of holding value after all, a traditional one that has a long history in every culture.  Nothing like a global struggle between superpowers to make one look for ways to hedge against potential outcomes.  It wasn’t safe to keep your money in Cyprus or yachts or apartments in Manhattan and London.  Better to have that shiny stuff in your vault where no one can take it.  That has opened the door to speculation and to other folks looking to put their money somewhere safe buying the shiny stuff too.  After a while other folks take notice and jump on for the ride.  And here we are….

My theory is this got kickstarted when we and the EU seized Russian assets, assets denominated in dollars.  Nation states took notice, and adjusted towards holding gold.  It’s a store of holding value after all, a traditional one that has a long history in every culture.  Nothing like a global struggle between superpowers to make one look for ways to hedge against potential outcomes.  It wasn’t safe to keep your money in Cyprus or yachts or apartments in Manhattan and London.  Better to have that shiny stuff in your vault where no one can take it.  That has opened the door to speculation and to other folks looking to put their money somewhere safe buying the shiny stuff too.  After a while other folks take notice and jump on for the ride.  And here we are….

user
no
assistant