Ever since the US Dollar went off the gold standard, it is only the good faith and credit of the Federal government with its taxing authority that stands behind it. Ethereum and Bitcoin and also Fiat currencies with no backing. And while Goldman Saches prefers Ethereum to Bitcoin (as risk-on devaluation bets), “Gold is a value buy” according to Goldman Sachs’ Jeff Currie and his Commodities Research group.
But today it looks a race to the bottom for fiats.
Since May, we have seen both Bitcoin and Ethereum fall from record highs as the US Dollar crawls back.
And while Goldman Sachs prefers Ethereum to Bitcoin (as risk-on devaluation bets), “Gold is a value buy” according to Goldman Sachs’ Jeff Currie and his Commodities Research group.
Ah, the gold ol’ days of the gold-backed dollar.
Not …
