Which fiat are you measuring in?
In 2020 USD was at 40%, whereas Saif calculates 7% is typical.
Chapwood index is a real world indicator at ~ 12% - 18%.
Discussion
Good question. I am thinking in USD. Haven’t heard of the chapwood index and will look into it…. Thanks!
Hoping to understand this on a 5-10 year basis (smoothing out spikes like 2020)