{"id":417255,"date":"2020-03-06T22:00:47","date_gmt":"2020-03-06T22:00:47","guid":{"rendered":"https:\/\/ktsl888.com\/?p=417255"},"modified":"2020-03-06T19:55:19","modified_gmt":"2020-03-06T19:55:19","slug":"bitcoin-an-option-call-against-the-wrecking-ball-that-is-the-dollar","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-an-option-call-against-the-wrecking-ball-that-is-the-dollar\/","title":{"rendered":"Bitcoin: An Option Call Against the ‘Wrecking Ball’ that is the Dollar"},"content":{"rendered":"

The Federal Reserve’s<\/a> emergency interest rate cut this week highlighted that the central bank is anticipating the troubled times ahead. Raoul Pai, the CEO of Real Vision Group, says Bitcoin, like gold<\/a>, is emerging as a worthy hedge against the potential demise of the dollar.<\/p>\n

Pai also says there is currently a massive effort to entirely redesign the financial system. He describes the wider crypto industry as a “hive mind” of diverse professionals unlike anything he’s ever seen before.<\/p>\n

A Troubled Financial System Makes Bitcoin Increasingly Attractive<\/h2>\n
Like an ever growing number of folk, Raoul Pai believes the current global financial system is unsustainable in its current form. In a recent interview with Bitcoin<\/a> proponent and Morgan Creek Digital partner Anthony Pompliano, Pai said an ageing population, along with the “excesses of this particular cycle” could actually break the financial system.<\/p>\n
For Pai, crashes in 2001 and 2008 highlighted that the system doesn’t work anymore. Central banks have spent the last 20 years aggressively printing money and implementing radical economic policies<\/a> to stimulate further growth.<\/p>\n
Like others, Pai does not think this is sustainable. He believes a change is coming:<\/p>\n
“The outcome is going to have to be a move to something different – I think Bitcoin is a call option on that outcome”<\/p><\/blockquote>\n
He adds that gold too serves a similar function against what he describes as the “global wrecking ball” that is the US dollar. Pai says that although he held the same beliefs prior to the outbreak of the coronavirus, the crisis is likely to contribute to the delicate global financial situation. True enough, the US Federal Reserve announced an emergency interest rate<\/a> cut for the first time since the 2008 financial crisis earlier this week.<\/p>\n
\n
This interview w\/ @RaoulGMI<\/a> is the most important thing you will listen to all year. We discuss:<\/p>\n
– Coronavirus impact on economy
– Corporate debt levels
– Pension crisis
– Stock buybacks
– The probability of a depression<\/p>\n
Available on all major platforms!https:\/\/t.co\/aQdjNwFrws<\/a><\/p>\n
— Pomp \ud83c\udf2a (@APompliano) March 5, 2020<\/a><\/p><\/blockquote>\n