Potentially though tangential since this relates to Rubel:USD. As dollar devalues this will drive up the price of gold in USD. Granted that PMs are non performing assets so rising rates will pull them down relatively speaking. Since interest rates < inflation rate, seems that assets will appreciate as measured in USD.
I agree that China will likely devalue. They need to do this in order to create enough liquidity within the yuan to create a competitive petro fiat to USD. Perhaps this is why they are in extreme lockdowns still: demand destruction to minimize price increases as they print
Potentially though tangential since this relates to Rubel:USD. As dollar devalues this will drive up the price of gold in USD. Granted that PMs are non performing assets so rising rates will pull them down relatively speaking. Since interest rates < inflation rate, seems that assets will appreciate as measured in USD.
If you can buy fewer goods with the same currency than it has reduced in value. Inflation is essentially just measuring the inversion of this.
I agree that China will likely devalue. They need to do this in order to create enough liquidity within the yuan to create a competitive petro fiat to USD. Perhaps this is why they are in extreme lockdowns still: demand destruction to minimize price increases as they print