The former BitMEX CEO urges readers to put their feelings about Russia and Ukraine aside to recognize the economic consequences that recent sanctions will bring.
Last week, global investment bank Credit Suisse made a radical prediction: that the dollar’s era as the world reserve currency is coming to an end and that commodity money – such as gold – will rise to replace it.. He, too, believes that hundreds of billions of dollars will flow into both gold and Bitcoin throughout the next decade. However, he is also “100% certain” that financial crisis and hyperinflation of the US dollar will ensue in the meantime.
The Federal Reserve recently ended its U.S. Treasury Bond purchase program to help curb skyrocketing prices across the nation. However, as other countries move their wealth away from bonds and into commodities, the Fed will be forced to purchase US bonds again in order to finance its debt. These purchases will be funded, of course, through money printing, which will spiral into “For context, the U.S. runs a $600 billion account deficit every year and had to sell $2.
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