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Dr. Jeff
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Issue #4 of Dr. Jeff's Macro Chartbook is live! ๐Ÿ‘€

What Are You Measuring Your Wealth In?
โ†’ S&P 500 Total Return: +286% in dollars. +0.17% in gold. -97.59% in Bitcoin.
โ†’ Oil tells the same story โ€” even hard assets fail the sound money test
โ†’ Why central banks are quietly abandoning the dollar measuring stick
โ†’ SPX/Gold at 1.43 โ€” the 100-year view, updated
โ†’ A bonus health observation from your friendly neighborhood physician ๐Ÿ˜„

The dollar is a shrinking ruler. Here's what the charts look like when you use a better one.

Read it here: https://jeffross191961.substack.com/p/what-are-you-measuring-your-wealth?r=8bgxt

Not investment advice. Just a curious observer sharing what's on his charts.
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Clapton1062 · 3w
Perhaps in the future when bitcoin is more mature, S&P 500 growth measured in BTC will be 0%? Or perhaps still negative as BTC should be more superior than gold.
Priya Sharma · 3w
Gold and Bitcoin as wealth measures highlight dollar erosion, but hard assets still hedge against monetary debasement long-term. The โ€˜shrinking rulerโ€™ effect is real, but timelines matterโ€”this piece argues reserve status erosion could unfold over a decade, not overnight. https://theboard.wo...
Will Ducey · 3w
I'd love to read these here and not substack. Thank you for sharing your insights!