Our London сorrespondent Nick Ayton reports from the city of London where the mood is tense and the financial world is in a state of anxiety, looking west to the US and east to China.
Will we see China try to sneak another devaluation under the radar on Friday, Jan. 20 when the 45th US president, who sees things differently from others, takes over?
US-China trade war coming
The battle for manufacturing supremacy is about to begin as the US and China go head to head as each looks to fuel demand and inject more growth into their respective economies. Will the US currency be the next one to devalue?
Are the conditions beginning to emerge as we look down the barrel for a repeat of 2008? A perfect storm gathers for Bitcoin to become not only a safe haven currency but a real alternative, scaling to 100 mln active users. This will trigger Bitcoin’s price progression to the next level.
Banks run amok
Did Satoshi know this moment was coming, that history would repeat itself?
Well, yes but with the lessons not being learned where modern day values of greed and fear drive unwanted but inevitable behaviors.
As Thomas Friedman, the Pulitzer Prize winner, famously states: “I’ll be gone. You’ll be gone,” meaning that by the time crisis hits, he will already be spending his bonus, which you couldn’t afford to pay anyway.
Will Trump withdraw the Dodd-Frank Act in a similar vein to Clinton who ignored Glass-Steagall and let the banks run free?
End of Eurozone
This is the moment when a hard Brexit looms, which will almost certainly spell the end for the Eurozone. Will the bankers finish the job and destroy the global economy, leaving the Internet of Money as the only functioning economy?
Will Altcoins emerge as the champion for hard working people as fractional-reserve banking remains off the grid and cannot be relied on? Whether the answer is to print more money or increase debt that devalues everyone’s net worth and the things they have worked hard for, the question remains – what is going to happen?
A massive buy signal for Bitcoin
Bitcoin is in the right place and at the right time. With 30+ banks in negative interest rates, things could only get worse. Behaviors would have to change as people cannot be trusted to make decisions and be their own validator. The rules of commerce would need to be enforced by a mechanism that works for all, using and relying on the primary concept of trust that is only established as there is no trust and miners behave in self-interest.
With China looking at another devaluation, now is the time, Bitcoin’s time.