Do you believe we’ve “crossed the Rubicon” where that means policymakers are increasingly inclined to view the world through the lens of Modern Monetary Theory even if they insist they’re doing no such thing? If the answer is “yes,” you’ll be forgiven. The superfluous middleman notwithstanding, central banks are engaged in debt monetization. That’s been true for a long time, of course. What’s new is that the “match” between government borrowing and central bank bond-buying became so glaring following the pandemic that the charade was difficult to obscure, even in countries where the public isn’t exactly famous for its capacity to grasp nuance (e.g., the US). The figure (below) is about as straightforward as it can be.
Online payments giant PayPal is now granting all US users access to its newly introduced cryptocurrency services. PayPal is updating its late-October…PayPal Opens Crypto Floodgates, Allows All Users in US to Buy Bitcoin, Ethereum, Bitcoin Cash and Litecoin
Billionaire and famed money manager Stanley Druckenmiller says he has warmed up to Bitcoin and now owns the crypto asset. Druckenmiller tells CNBC’s …Billionaire Investor Stanley Druckenmiller Says He Owns Bitcoin, Believes Top Crypto Asset Has More Upside Potential Than Gold
US financial giant JP Morgan says Bitcoin has the potential to triple its price as BTC challenges gold’s status as the go-to alternative currency. Although Bitcoin is still a relatively small class asset with a market cap of $242 billion compared to gold’s $2.6 trillion market value, the cryptocurrency can potentially compete with the precious…JP Morgan Says Bitcoin Going Head-to-Head With Gold, BTC Price Will Double or Triple if ‘Modest Crowding Out’ Occurs — The Daily Hodl