It should come as no surprise that in these times of global economic uncertainty and political insanity the price of bitcoin is surging, again. It is perhaps the best indicator of the extent of government interference we expect in the determination of the value of fiat money.

The more we expect governments to see (and use) that blunt, tired instrument of quantitative easing (QE) — interest rate dictates — the less we want to leave the value of our money under their central control, the more we search for an alternative medium of exchange, the more cryptocurrencies become attractive. And digital is here to stay, anyway...

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