Loading ...Dollar sure did a job on oil and food back then but it also did a job on housing via banking wanting to give loans on non fixed variable interest to make the most money they could off people with predatory lending and mortgage back securities which caused people getting what they thought was a temporary loan to sell and others while banks wanting to make as much money off them they could of steal their assets, then entrapping temp loans, sellers home improvement, renters and flippers with no thought what the result would be when they sold to first time buyers on mortgages they couldn’t afford , raised their mortgage, refused to others on variable interest refused to refi on ac fixed rate, and couldn’t sell causing a crash and a heck if you do bring the dollar up or heck of you don’t. People may have saved gold or silver could of suddenly had their worst case scenario and needed to sell it not buy it.
This time we had greedy predatory buying by wall street and mortgage backed securities from the Fed to make as much money off people by renting this time and the RBB startups at unstable and unaffordable prices again to get more money than people could afford off them. Now we still have a bunch of homeless out there refusing to pay that amount, not just drug addicted out there too they don’t try to give them help and a pathway out just enable them to kill themselves and cause collateral damage as the drugs spread into the community’s. Those who may want to move with current interest rates doubling or more the costs won’t sell.
Looking back at that past the question will be unless war and institutions as the prices moving higher will it continue at the fast pace or slow in pace plus the competition of crypto where they can use small amounts of money to accumulate. Perhaps unless more institutional buying it could move more slowly at times. But what it does tell you is people buy for worst case scenarios not necessarily when they’re in one and need it. I don’t know what that would look like in the global level other than demand for solid money over depreciating fiat.