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BloombergOpinion/Niall Ferguson
Repost from 4-7-2021
“Not only are the American monetary authorities underestimating the threat posed to dollar dominance by China’s pioneering combination of digital currency and electronic payments. They are also treating the blockchain-based financial innovations that offer the best alternative to China’s e-yuan like gatecrashers at their own exclusive party.”
USAGOLD note: Does it matter who mints it or how many mint it? In the end, whoever designs and manages it more wisely will gain the attention of savers and investors. If that be the case, will it be much different from the way markets view national currencies now? Gold and silver, in our view, will still play a role as a hedge given the propensities of nation-states to use whatever sort of currency is issued to their respective advantages – blockchain or not.
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