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Has The Rubicon Finally Been Crossed With Bitcoin Selling at $100,000?
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The notion of digital money in the digital era now seems like a no-brainer to every thinking individual.
For the very longest time, its legitimacy was disputed by the cognoscenti from Warren Buffett and his late partner in crime — Charlie Munger to Nicholas Nassem Taleb and other quants of significance in global finance.
But to all students of history and finance, who appreciate the degree to which fiat money has been manipulated beyond all comprehension in umpteen economic wars, sanctions, coups, revolutions and famines in the last few centuries, the notion of a currency, which is not beholden to governments is the best thing ever.
Fiat money has always been and will forever be a political tool.
This was a painful lesson which the United States of America learnt when the British empire was at its pomp, when the UK imposed exceedingly high tariffs on American goods in Indian, Nigerian, Ghanaian, Australian, Canadian, South African, Zambian and Zimbabwean markets.
And when it became top dog in the immediate aftermath of the second world war, the United States of America made sure that the dollar alongside gold became the currencies of global trade.