Ratio would be highest since aftermath of second world war, with UK among G20 countries forecast to peak above
  • I_am_10_squirrels@beehaw.orgEnglish
    2·
    2 days ago

    Countries have been hoarding gold recently. They are getting ready for a massive depression. What happens if every major nation rebases their currency at the same time?

    • StinkyFingerItchyBum@lemmy.caEnglish
      3·
      2 days ago

      A return to a gold standard is highly unlikely. It will always have a place as top tier collateral, but it moves too slowly to be useful.

      What you will more likely see is an abrupt snap back to spending based to tax revenue after bonds become untouchable. Interest rates become crushingly high and the economic fallout of this hapening all looks like the 2nd great depression, because it will be.