Transcription
Since the beginning of this year, the dollar against the basket of currencies is down about 10% in value. Um, and many people are worried that there might continue that way, be devalued.
Some people say it's not a bad thing because we can buy things, we can sell things more cheaply overseas and increase our exports. But if people are worried about the dollar going down in value, what would you suggest they do? Buy other currencies or go buy things that are not dollar denominated?
The thing that we have to worry about is a stagflationary environment because all the currencies went down. So when we're looking at diversification, the problems that we're talking about are not just American problems. We have a significant problem. They're European problems. They're they're Japanese problems. There's Chinese problems. We've lived on promises to be able to take that dead asset and convert it into money. And now there's not enough money to go around.
I would say um that when you ask the question would I devalue in relationship to other currencies, probably. But the other currencies won't want much of an appreciation and so that's why I'm saying that something like gold will be the better performing currency. See?