While the existence of a one world cryptocurrency isn’t a plausible economic reality, cryptocurrencies can, and do, offer real world value.
Last week’s Jackson Hole meeting has injected some downside volatility into equity markets, pushing the summer rally into reverse.
A one-world crypto or fiat currency is seductive in its simplicity, but doesn’t serve anyone’s economic interest in the long term.
King Dollar looks to be exerting its strength again.
However, other markets have yet to follow its lead. Is it just a matter of time?
Is it plausible for a single cryptocurrency to replace all fiat currencies?
That is, can there be a crypto-one-world currency?
The rally in US equities has finally taken a break with some heavy selling.
Does this herald the end? Keep watching EM assets closely.
The summer rally in US equities has gotten folks bullish again.
But, from a broader perspective, it looks as if equities are fighting the bullish battle alone.