"Although some of the enthusiasm for bitcoin is driven by a distrust of state-issued currency, it is hard to imagine a world where the main currency is based on an extremely complex code understood by only a few and controlled by even fewer, without accountability, arbitration, or recourse."Funny.
The dollar may be doomed, but this guy likes Mexico and the euro.
"Most analysts do not understand the dynamics driving the Euro. They mistakenly assume that if growth is weak, unemployment is high and banks are insolvent that the currency must we weak also. This is not true. The strength of a currency is not driven by the current state of the economy. It is driven by interest rates and capital flows. Right now, Europe has high interest rates compared to the U.S. and Japan and it is receiving huge capital inflows from China."But if the ECB keeps printing, if it lowers interest rates to nearly zero, if Europe's economy stays in the tank, why would this continue?
"Germany benefits more from the Euro than any other country because it facilitates the purchase of German exports by its European trading partners. Citizens throughout Europe favor the Euro because it protects them from the devaluations they routinely experienced under their former currencies. No countries will leave the Euro. New members will be added every year. Germany will do whatever it takes to defend the Euro and the European Monetary System. Based on all of these developments, the Euro will get much stronger."
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