I’m clearly no economist so maybe I’m missing something obvious, but I cannot wrap my head around why so many believe that the market is just some sort of fundamental, unchangeable property of the universe that is and always will be. Why do we assume that the dollar will always be valuable?
I could be incorrect, but it seems like there is no guarantee that there will be a rebound after a crash (see: 2008). It more so just seems like parts of capital crumble and become inaccessible to people who once had access, thus causing complete inaccessibility for all who come after.
So, boom and bust seems like the greatest misnomer of all time.
No argument there. Although I could imagine partial collapse scenarios where gold retains some relevance, ammo will always be better. Funny thing is though, gold is only becoming more important due to increased central bank purchases. This is mostly being driven by central banks trying to diversify away from the dollar.