Bitcoin’s rise reflects America’s decline

Financial Times/Rana Foroohar

Repost from 2-17-2021

cartoon showing the three pigs building their houses out of euros dollars and gold
“Bitcoin isn’t so much a bubble as ‘the last functioning fire alarm’ warning us of some very big geopolitical changes ahead. I agree. Central bankers have over the past 10 years (or the last few decades, depending on where you put the marker) quashed price discovery in markets with low interest rates and quantitative easing.”

USAGOLD note: We do not post the link to this article to boost bitcoin but because it frames so well what Foroohar calls “a new world order” wherein the dollar diminishes in stature. She sees bitcoin as the “canary in the coal mine” with some in the investor community believing the United States “will eventually come in some ways to resemble Weimar Germany.” Foroohar says none of this makes her want to own bitcoin.

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