To quote political economists Jack Rasmus in framing the place and misplace of bitcoin: “is it a currency going to replace the dollar (Max view) or is it a classical commodity speculative financial bubble, along with emerging bubbles in stocks, emerging market bonds, and other markets today as the global economy enters a late credit cycle (Rasmus view). Is it driven by technies and philosophy nerds, or is it driven by retail buyers in Asia buying on margin. What are the contagion potentials to other financial asset markets (Rasmus explains). Is it an answer to the massive central bank liquidity explosion of recent decades (Max) or is it just another reflection of the flood of currency ($25 trillion) by central banks (Rasmus view)”
Watch the debate on RT at Jack Rasmus Blog
