Fonte: What Is Bitcoin Really Worth? Don’t Even Ask. - Robert Shiller - New York TimesIn short, the Bitcoin market is a marvelous case study in ambiguity and animal spirits. It is providing invaluable information about how millions of human brains process stimuli coming, in this case, from public acceptance, imagination, and innovation surrounding cryptocurrencies.
This coincidence must alert readers that a tempest is brewing on subjects noted: lurking inflation, increasing debt, suppressed interest rates and the shifting of hegemonic power. There are only two important questions in investing that also apply to subjects impacting the future stability of the world — tell me why and tell me when. Plender gives us the “why”, the ever-increasing “intolerable burden” of government debt and suppressed rates leveraging the global financial system. He gives us the tipping point. What we await is “the when”, as in when do we know we have “tipped”. Paul Hackett Madison, NJ, US Letter: Why the geopolitics of international currency choice matters
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