Barbarians at the Monetary Gate
Amid global fears of financial instability, cybercurrencies are becoming a refuge for skeptical investors. But as peer-to-peer alternatives to official money proliferate, and the state loses its role in maintaining currency values, the risks to financial stability implied by a collapse are rising.
https://prosyn.org/XVgV44t
HONG KONG – Financial markets today are thriving. The Dow Jones industrial average, the S&P 500, and the Nasdaq composite index have all reached record highs lately, with emerging-economy financial markets also performing strongly, as investors search for stability amid widespread uncertainty. But, because this performance is not based on market fundamentals, it is unsustainable – and very risky.