Can Anything Be a Store of Value?

QUESTION: I understand that you dispute that cryptocurrency is a store of wealth because it is outside the central banks. Is this your position? Could you explain?

Respectfully submitted

Josh

ANSWER: Whoever made up this BS is most likely from the Deep State trying to control capital flows and economically imprison everyone. There is ABSOLUTELY NOTHING that is a store of wealth. Looking, Investopedia defines this term:

“What Is a Store Of Value?

A store of value is an asset, commodity, or currency that maintains its value without depreciating. “

It does not matter what money might be. There has been a boom and bust in every economy regardless of what they have used for money. This is an entirely Marxist Utopian idea. Why? Because to be some store of value means it CANNOT FLUCTUATE!!!!! This has stemmed from people who (1) do not understand that there are business cycles and (2) think, like Keynes and Marx, that the government can eliminate the business cycle and smooth out the economy. I had a conversation with Paul Volcker, former Chairman of the Federal Reserve. Paul admitted that the business cycle always won and that the “new economics” (Keynesian Economists) failed back in the 1970s (see his Rediscovery of the Business Cycle).

Arthur Burns, Fed Chairman, came up with the same conclusion when Bretton Woods collapsed: that the business cycle always wins. Everything rises and falls based on supply and demand. Anyone telling you that Bitcoin is a “store of wealth” is either outright lying to you or they are ignorant of what they are talking about. Nothing ever is a store of wealth because everything rises and falls.

This is why the central banks cannot control inflation, no less money supply. I you sell an office building for $1 million to another person in your country, the money supply is not impacted. However, if you are in Britain as back in 1985, when the pound fell to $1,03, Americans were buying up everything like it was on sale at Harrods. The Brits thought the Yanks were crazy buying at the top of the property market and they were wrong for everything boomed thereafter. Why?

If I bought an office building in London at that time, I would have to bring in the cash from America, convert it to pounds, and buy the building. Thus, I increased the domestic money supply with important cash, and the central bank had nothing to do with that. NOTHING is a store of wealth EVER, no matter what it is, because everything will rise based on demand and crash when you can’t give it away.

This is why empires rise and fall. Nothing has ever remained a flat line in terms of value.