Decipher Uncles letter please

[rerod]

I keep in touch with my 75 year old uncle in Vienna and he wrote me a letter I'm having a hard time understanding..

Hi Mike !
Sorry again, I cannot help you much. Go to your bank and ask for advice
there. I repeat I did quite well avoiding nominal values and preferring real values almost totally. All over the world currencies with very few
exceptions are overvalued and most countries heavily in debt. A correction is to expected within a few years. The situation reminds me on the situation before WW 1.
Make the best out of it !
Hans

It sounds like he's tired of my questions. But the one comment in bold is what I don't understand. Anyone?

[disneysteve]

I am not an economist so I won't pretend to understand this stuff, but if you Google "real vs nominal value of money" you should find what you're looking for.

[97guns]

First 1/2 is jibberish but from where he says "all over the world currencies are overvalued" I understand. His concern is real... that all countries are severely in debt and their only option is to print and inject more money into the their system which waters down and dilutes their currency, it's a worldwide epidemic and every country is printing money into their system.

[97guns]

I decipher the bold lettering as he invests in hard tangible assets and no paper assets, that investment strategy backs up his belief on overvalued currencies and countries in debt

[msomnipotent]

I decipher the bold lettering as he invests in hard tangible assets and no paper assets, that investment strategy backs up his belief on overvalued currencies and countries in debt

This is what I assumed, too. Precious metals instead of paper money. I can't argue with his logic.

[rerod]

I decipher the bold lettering as he invests in hard tangible assets and no paper assets, that investment strategy backs up his belief on overvalued currencies and countries in debt

Thanks 97guns.

I initially thought he may have gone cash at his age like Iv read some investors are leaning towards, but the precious metals makes more sense. Or is it real estate? Who knows, but his comment about me asking the bank tells me he wont advise his nephew how to invest.