Financial Crisis and Bitcoin — You’re Worried About the Wrong Markets
Everybody’s so worried about stocks, currencies, and corporations they’re overlooking the most important market of all.
“There are decades where nothing happens, and there are weeks where decades happen.”
Vladimir Lenin
We have had a few of those weeks.
While the world’s financial system teeters on the edge of collapse and deflationary depression, the cryptosphere is hyping bitcoin as a way to capitalize on inflation from all the money that governments are printing in response. I mean, have you seen the price of bitcoin?
Talk about contrast.
I am not ready to look that far ahead.
First, the world’s financial system needs to survive long enough for all that money to cause inflation. Then, bitcoin needs to survive long enough for the rest of the world to care about it.
While everybody obsesses over the destruction of fiat currency, I worry about an area of finance that has far greater significance for bitcoin and the global financial system.
What is that something?
Debt markets.
