Bitcoin is The World’s Greatest Hedge Against Inflation and American Economic Dominance
Reports of the imminent demise of this brilliant contraption are a complete nonsense.
With the notable exception of the basketball loving Frenchman who writes brilliantly about Bitcoin on this platform, the vast majority of articles on the subject matter of the preeminent cryptocurrency of our time are profoundly nonsensical.
Why?
To understand bitcoin’s place in our financial system today, we need to look beyond the its performance in the short to medium term and moves by national governments (China and The United States of America in particular) across the world to rein in its influence. A thorough comprehension of bitcoin requires a high degree of knowledge of the history of money and economics for the last five hundred years and beyond.
The Hyperinflation of the US dollar
Consumer price Index is usually the basis of measuring inflation and has been so for a long time. In the United Kingdom, the preferred method is retail price index, which is often described as RPI.
But the fatal error with the computation of America’s inflation lies in its glaring omission of three major sectors:
- Property Market