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“Cash is a risky asset”

“Cash is a risky asset”



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  1. “When you get to the end of the arc [the current economic cycle], if money is hard, like connected to gold, they always broke that link, and it was soft, they always printed more money. And you can’t raise living standards by printing more money, you can redistribute it. Certainly the money, that is being received by those in the form of checks and they go out and spend it helps their living standards. **But what it does is it diminishes the value of that cash** and it diminishes the value of bonds […] and it shift wealth to financial assets. It always send stocks higher, it always sends gold higher, and it always shifts the impact of currency. So what we’re looking at, we;re going to also see I think the increased importance of China currency”

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