Agree that calm is better than chaos even if it means a weaker crypto raison d’etre.
Not quite seeing the relevance of PP for safe haven demand. PP basically just tells us if someone is richer or poorer due to a change in relative prices. Def relevant if that change in relative price is your currency collapsing and the exchange rate plummeting. But not sure if demand for safe haven goes up for the line cook that’s getting financially squeezed since his wages are stagnant but his kid’s nanny keeps getting more and more expensive. I might be misunderstanding something though.
Agree that calm is better than chaos even if it means a weaker crypto raison d’etre.
Not quite seeing the relevance of PP for safe haven demand. PP basically just tells us if someone is richer or poorer due to a change in relative prices. Def relevant if that change in relative price is your currency collapsing and the exchange rate plummeting. But not sure if demand for safe haven goes up for the line cook that’s getting financially squeezed since his wages are stagnant but his kid’s nanny keeps getting more and more expensive. I might be misunderstanding something though.