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This is the perception. What’s the reality? https://t.co/pMScrMyXjw My view: Bitcoin > gold > public stocks > real estate > savings/CDs > bonds. At the end of a sovereign debt cycle, safe investments are unsafe. https://t.co/rRWXWe9T4Z Under normal circumstances I’d agree. But Western countries face sovereign debt crisis. And that means those states may not protect real estate. For example: NY favors squatters. CA can’t stop fires. And the UK is taxing farms. So land may be unsafe in an unsafe land. https://t.co/TpdMD8yBFw Yes. Unfortunately, China has different dynamics. Chinese bond yields are falling and just flipped Japan. Japan is the emerging market now. More precisely, Japan is descending world, and China is ascending world. Whether we like it or not. https://t.co/2dVv5cjP7e This is something that really should be written about more. If your house catches fire due to the city’s inability to extinguish fires, you evidently still need to pay LA for the property that they just negligently destroyed. Other jurisdictions must have saner policies… What’s interesting is that in 2011 — right after the financial crisis — the public was bullish on gold and bearish on real estate. But all the Fed purchases of mortgage-backed securities made them forget that real estate wasn’t safe. Even as billions piled into digital gold. https://t.co/vNAO2p7gjZ