Oddbean new post about login | logout That’s a good analysis. However, if gold lost its monetary premium. The cost of all the other metals: base metals and precious metals would have to go up. Many of the best silver miners today are only able to mine silver and stay operational because of the premium on gold. The metals miners would become more centralized. The amount of metal miners would need to mine to offset the that premium would be enormous.
Real continuing demand and supply would work itself out if left to market forces. My view subject to an EMP shutting the whole network down is Bitcoin will become the favoured store of value, but good will remain an alternative with a lower demand (price) profile. The respective general price levels for the two, Bitcoin or gold, too hard to estimate for now. Agree, thought it was a good way to assess it. Kudos to Nick Giambruno and Doug Casey’s International Man for reporting it.