Is history going on again? How should we avoid it? Is it a crisis or an opportunity?

Gold and silver reached a new record high, and spot silver historically stood at 70 USD/ounce on Tuesday evening - far higher than the price per barrel of crude oil.

The signal sent by the market seems to be very clear: in order to avoid the risk of depreciation of the legal currency, investors are investing in assets that are not controlled by any central bank or government.
Assets that are not currently participating in the rise are also worthy of attention: such as "digital gold". In most of the cheap currency era after 2008, they succeeded in profiting from currency devaluation transactions. But now, the deal seems to have entered a new and possibly riskier stage, and traders have begun to turn to the original human risk-averse tool in the crisis. This phenomenon is quite meaningful: in the face of the choice of human creations such as legal currency and ancient natural value storage tools such as gold and silver, investors choose to trust the latter.

If the currency continues to depreciate relative to gold, this impact will eventually be transmitted to other commodities such as industrial metals, and then enter the economic supply chain. Inflation may worsen, government bonds may fall, pushing up interest rates, and eventually causing market panic. In the past month alone, interest rates on long-term debt in most developed countries have risen by 0.15%-0.25%, which is clearly not a vote of confidence in the currency.

The stability of the modern economy depends on the public's trust in the value of the monetary system, which cannot be overemphasized. Nowadays, this trust is gradually being shaken. Although they have not yet fallen into a crisis, central banks have been warned that if they remain sacent when gold and silver are soaring, the market may abandon them.

It is worth noting that the last time the price of silver was so higher than that of crude oil was in the early 1980s. What was followed by vicious inflation, soaring interest rates, market collapse and economic recession. This future is not destined to come, but a similar financial crisis has now become a very realistic possibility. Will history come again? Should we choose to retreat from the rapids or move forward bravely? Why?