Tuesday, October 14, 2025

Debasement (aka Inflation)

It's a debate about whether investors should shift away from traditional currencies and bonds into alternative assets like Bitcoin and gold due to concerns about government spending and currency devaluation. (Bloomberg)

There is no debate worth debating, since everybody feels the devaluation of every currency. Gold, silver, bitcoin, and other assets are seen as a defense. On the other hand, there is a growing overproduction of oil, meaning an unmanageable fall in prices (Rockefeller managed to stabilize oil prices, but he is dead). 

On the other hand, growth in all European economies is very weak or zero, and the USA has lost steam and is sliding into stagnation. Even Japan and China seem to have arrived at the top of prosperity. If Central Banks print more money ("easing"), then inflation may get out of control. The only industry that is expanding is AI. I don't see much productivity generated by it. Mechanical intelligence has uses, but I don't feel it yet. 

All in all, it is dispiriting. Is there anything worth doing for me? I shall die in a few years. Claude the AI cheers me up: You still have agency!


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