you know, if America isn't careful, we could see an enormous shift of wealth.
I wonder about that also doc. If a country like Finland brought bitcoin into the fold of their banking system there might be a huge influx of wealth into Finnish banks. Some country is going to do this sometime and tax haven countries may feel the pain.
many years ago, i read a fascinating article about this phenomenon from the gold camp (as i was a member at the time).
i can't remember all the specifics but it went something like this: if a nation went back to the gold std, speculators from round the world would rush to buy its fiat currency and drive it up to levels that would KILL their own economy.
i'm not sure i ever understood this but i took it to mean making their native corporations have a more difficult time selling their goods abroad as they would be "too" expensive. i suppose one could make the same argument against Bitcoin.
the problem is, i'm not sure i buy that. how could a strengthening of a nations currency be a bad thing? it certainly would be good for the ppl as they'd have more purchasing power and could travel the world with impunity. personally, i'd love to see it as i think the long term trend is away from big corporate conglomerates anyways. not to mention the ppl need to be treated better and Bitcoin gives them that choice.
