The last time the U.S. markets faced a drawdown of this magnitude, the U.S. Government defaulted upon its gold peg within the next 24 months.
1933 - Executive order 6102
1971 - Nixon Shock
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Once again, the default won’t be happening in nominal terms.
The default will occur in real terms, as long dated creditors get wiped out in purchasing power terms.
Few.
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The largest wealth transfer ever will happen from fiat creditors to #Bitcoin holders over the next decade.
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The 60/40 stock-bond balancing act of “diversified” portfolios has been the foundation of investing for decades. Going back to 1929, there have only been 3 years where bonds didn’t go up when stocks went down.
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You know, that is something I didn't even connect when I saw this graph you posted earlier.
That puts a pretty scary exclamation mark on it.
May be why Yellen had a 24 hour epiphany.
George that artist
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