MacLeod's latestLeaving the Bitcoin Vs Gold discussion aside, he is really tying his credibility to a currency event occurring soon. Perhaps there are supporting factors like the FED
hiding obvious jumps in money aggregators just like preventive hiding of the M3 numbers in 2006 just before Quantitive Easing. Is he taking a brave but perhaps foolish position?
Anyway, a powerful snip:
There is a growing feeling, even among the establishment’s mainstream supporters, that so long as Fed policies continue on their current course, bitcoin will go to the moon.
True that
Ultimately, I am pondering about scenarios if the monetary system indeed breaks down severally. Meaning, that true collapse of an already but in name collapsed system materialises.
I don't want to dismiss the case for gold as government proposed solution out of hand. But we already know how Gold as 'solution' turned out in the past. At best a temporary stop gap with the abuse in the system growing and taking over from day 1 again. Hardly reassuring for me but perhaps it would work for the masses or money system overall for the time being.
In any event, it makes me think about an outcome where Bitcoin won't take over in the absolute sense but grows sufficiently big to be the truth keeper. With an 100% open and honest ledger, true value cannot be hidden anymore. If this would keep rampant mismanagement of government ruled money systems in check, Bitcoin will have won.
But I don't want to disturb you further with these musings.
The race for $100k is on (true reverse-Minsky style
)!