We save to be able to spend in future, but need to know our future spending power will be at least equal to the current spending power; that the savings will “store value”. A form of savings “holds its value” if it maintains its purchasing power. However, global central banks have eroded store-of-value characteristics from traditional financial markets. First cash, then bonds, leaving investors to use property and equity as quasi store-of-value instruments. Negative interest rates raise the attractiveness of the age-old store of value, gold, and the store of value for the digital age, bitcoin. Dollars and rands ... (full story)