[notahacker]

Trouble is, that for all your dire warnings about the horrible things the ECB might do, the one store of value that actually has dropped in value by a third in recent years is gold (it lost nearly a third between mid 2012 and mid 2013, and its a little lower than that now)

Sure, in the long run, gold holds its value, though it doesn't perform nearly as well as stock markets, or real estate. In the long run, a predictable 2% annual inflation erodes the value of savings, which is why people participating in the dollar economy tend to put their money in bank accounts paying interest rather than burying their cash in vaults,

But it's economically illiterate to pretend that gold price crashes haven't been a far more serious wealth destroyer over the last couple of years than the relatively stable and predictable inflation in developed countries, despite all the predictions that QE was going to make the sky fall in.