The Bitcoin is supposed to be a great triumph of technology, which protects the rights of the individual to his property and privacy. But, does this make the Bitcoin a new type of money? The answer is "No".
"Mainstream Economics" functions on the basis of an inappropriate method. The inductive method cannot apply in the realm of human affairs, where each situation, individual or collective, is unique and not repeatable; no matter how well-intentioned "mainstream economists" may be, their methodology - induction - must fail to solve the problems they face
When might this happen? The world economy is going from bad to worse by the day. The Chinese may opt for this measure out of sheer desperation, and it may be a reality soon. I have the sensation that things are falling apart around the world at an increasing rate of speed. Perhaps China will move this Fall?
Interest rates will have to rise, sooner or later; central bankers tremble when they see the slightest sign that interest rates are ticking up; they are trapped and wait in dread for the deluge of bond liquidation