Gold & Silver: The Once and Future Money
With so much talk about bitcoin lately, I want to talk about another traditional form of money that most people have completely […]
Has Jim Rickards Changed His Mind on Bitcoin?
My readers know I’m not a bitcoin proponent. I don’t deny that it’s made some people a lot of money, but I believe bitcoin is a massive bubble right now.
Yet it’s been reported in some circles that I’ve recently come out in favour of bitcoin.
It’s not true.
Now, it is true that I’ve stated my belief in blockchain technology, which is the technology behind bitcoin and other cryptocurrencies.
There’s great promise here.
Russia’s Plans for a ‘Fire Escape’ Currency
It may be a new year, but Russia has made no secret of its long-term dissatisfaction with US politics, the dollar and, by extension, US monetary hegemony in the world.
Russia has been under US/Western economic sanctions for over three years. Meanwhile, oil prices have been ‘lower for longer’, as the saying goes, due to global competition for market share from US fracking. The overall impact of these phenomena has been costly to the Russian economy.
Still, Russia has persevered through all manner of external economic roadblocks. The Russian view is sanguine, and that, as time passes, the dollar is in trouble, for a lengthy list of reasons.