/biz/ - Business & Finance

Anonymous Thu Mar 4 09:29:42 2021 No.30198702 [View]
File: 118 KB, 1807x735, golddown34percent2008.png [View same] [iqdb] [saucenao] [google]

>>30198393
>No, because the US dollar is backed by debt. Debt which during a deflationary event will lead to massive default. This is why gold went up during 2008, and why gold went up during march.

Again, not true anon.

Gold dropped 34% in 2008, because no asset was safe from the stock market crash that year. The only safe haven was USD.

Gold rose from 2009 on, because of inflation caused by low interest rates from the fed, as investment money reentered the market they diversified back into Gold.

Gold then dropped in 2013 because the fed started raising rates and initiated deflationary policies.

The debt that backs the USD per say, is irrelevant to the value of Bitcoin.

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