Deflation. Lol. To quote FOA courtesy of the late great Jim...

Deflation. Lol. To quote FOA courtesy of the late great Jim Sinclair;

"My friend, debt is the very essence of fiat. As debt defaults, fiat is destroyed. This is where all these deflationists get their direction. Not seeing that hyperinflation is the process of saving debt at all costs, even buying it outright for cash. Deflation is impossible in today's dollar terms because policy will allow the printing of cash, if necessary, to cover every last bit of debt and dumping it on your front lawn! Worthless dollars, of course, but no deflation in dollar terms!

So I wouldn't be too fretful about deflation David, it will never be allowed to occur, and should it reach a point, if it does, that really signals the world has moved into a fully totalitarian state.

Disinflation maybe, proxy safety valves such as the lastest shiny cypto bit thing for the easily distracted and digital natives, certainly. CBDC's tied to the IOT, social credit and UBI if people are sufficiently desperate. Then if free markets have completely died, if individual rights and liberties are destroyed, if the state controls all and there is no way to transact without full digital control, then maybe you have deflation, of a type.

What do you think gold is tell you? It's not gold rising in value. It's every fiat currency in the western world collapsing due to unsustainable debt and deficit. And the ongoing management between the BIS and central banks of the relatively and speed of collapse. This is not conjecture. Anyone who can read a balance sheet can see the state of the accounts.

Anyway, as a professional investor you should perhaps hedge by selling some of your RMS if you are concerned. You may sleep better at night.