“When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment,” Soros said at the World Economic Forum’s annual meeting in Davos, Switzerland, in January. “The ultimate asset bubble is gold,” he said.
It's ironic the ultimate form of sound money is often discussed in terms of the "ultimate bubble", when history clearly defines it (the ultimate repeating bubbles) as fiat money. News wire stories, even market masters, always seem to get selective amnesia about the historical lessons of fiat money. It's not surprsing. The greater vested interest in the current system, regardless of its inherent instability, the harder it gets to remember.
Source: bloomberg.com
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