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Oh, it will probably exist, but it will exist on newly created dollars, and therefore, cause massive inflation, and the dollars will buy less and less as time goes on. The dollar is headed for a death spiral like Argentina.
But that's the problem. Inflation is still running higher than it should be. And the Fed is already talking about cutting rates which will drive inflation up again. If you take a look at gold and silver from the beginning of 2023 until the end of 2023, you will notice a roughly 10% rise in both on average. Bringing that down would take more time of high rates which we will not get.
Yeah, commercial real estate could be a serious issue for the banks. A small amount of deflation is not a bad thing, although large amounts in a very short time definitely is. From what I am hearing, people expect the Fed to begin cutting rates as early as March or April, which definitely is not most of 2024. If the cuts are slower than what the raises were, we might be alright. But something makes me doubt that, because the Fed very much seems to lurch from one crisis to the next. Seems more like an out-of-control train than a well-controlled system.
Edit: Not to mention that other central banks are buying of gold because of the US threatening to send Russia's dollars to Ukraine. And therefore showing that dollars as reserves are not meant to be trusted and can be removed on a whim if it suits the US's political agenda.