Avanza is one of the largest banks in Sweden, and in their monthly blogg, they’re noticing a big movement where Swedes are selling their American funds and shares, to buy Swedish/European instead.
Avanza is one of the largest banks in Sweden, and in their monthly blogg, they’re noticing a big movement where Swedes are selling their American funds and shares, to buy Swedish/European instead.
People will just call paper gold, gold futures. The last pillar holding up the US economy is Jerome Powell and if Trump gets rid of him, the US dollar will be worthless.
Paper gold would suffer from the exact same problem as all other fiat currencies - it would be entirely backed by trust on somebody or some institution and hence could collapse if that trust was abused, same as it seems to be happening with the USD as the US Administration abuses the trust placed in them which amongst other things backs the value of that currency.
The thing with actual physical Gold is that one can’t just print more of it and after millennia its stores are spread out all over the World thus there’s no one single major owner, so its pretty hard to manipulate (the closest to it, funny enough, is manipulating Gold Futures - i.e. paper - though that only seems to work for inducing short-term market movements that end up naturally corrected).
IMHO people would be better of spreading their savings across a basket of geographical locations and currencies than using paper gold.