From the Wayback Machine

[Hal]

Interesting article on the limitations of the PP
https://web.archive.org/web/20120415114 ... eland.html

<snip>
The experience in Iceland shows that the Permanent Portfolio is unable to perform miracles. It remains a fact that an Icelander, even with the permanent portfolio, can buy a lot less imported goods. However, its relative purchasing power compared to other savers and investors went up considerably.
<snip>

ps: In case you are not old enough to remember
https://www.youtube.com/watch?v=qGjupAMTdyo

Edit: Rereading this book. https://cdn.mises.org/Deep%20Freeze%20I ... apse_2.pdf

[murphy_p_t]

In my opinion, your post will prove to be very timely notice for American investors over the next few years.

[seajay]

If I lived on a active volcano island with a population of 350,000 as per Iceland, I don't think I'd hold domestic stocks nor bonds, but perhaps US$ invested in US stocks, gold, Euro Bonds. Three currencies, three assets diversity.