For the first time since I started this blog I have not posted a story for over a month. I have been away. But also there is so much happening that I did not find a specific topic give me focus. The macro economic and geopolitical issues the world is facing at the moment seem to be more plentiful and more serious than since the GFC.
For this post I have chosen to highlight this story in the AFR (which I think is the first positive and well informed story on Bitcoin that we have seen in the Australian media) because it comes at a time when the benefits of Bitcoin can be seen in contrast to the debasing of fiat currencies throughout the world.
Not only are currencies being debase, in some cases withdrawals are being limited (Hong Kong and India).
The AFR also highlighted the issues with Modern Monetary Theory. MMT is basically limitless printing of money by the Government when they need money to stimulate the economy. MMT is scarily gaining traction as a credible economic theory. MMT is the exact opposite of Bitcoin monetary policy. Read more about MMT here.
Also interested to read my old boss from Credit Suisse days opinion on negative interest rates. Ozzi as we called him (never to his face) is one of the most respected bankers in Europe. His opinion is here.
The world is becoming more and more ready for Bitcoin, but is Bitcoin (and cryptos generally) ready for the world? It is difficult to tell, the technology is moving ahead at a great pace, but so too are political/economic events. It is an interesting time to say the least.