Overview

• Sridhar Vembu wrote on X that he has favored gold for over 25 years as protection against currency debasement and that he is not interested in cryptocurrencies.
• In excerpts he shared from Lyn Alden, Aswath Damodaran’s data show $100 in T-bills from 1928 to 2023 growing to $2,249 versus $10,042 for gold.
• The analysis also references Hendrik Bessembinder’s finding that roughly 4% of U.S. stocks produced virtually all returns above T-bills, with 86 stocks generating half of the excess.
• Vembu’s post followed a steep selloff in digital assets, with Coinglass estimating more than $19 billion liquidated after U.S. announcements on 100% China tariffs and new software export controls.
• Indian gold prices have surged year over year, with 24-carat rates near Rs 122,400 per 10 grams on October 10, up from about Rs 77,450 in early October 2024.