The Institutional Risk Analyst

Jim Rickards: False Narratives in Crypto & AI, and the Case for Gold

When Bitcoin was first introduced in 2009, the token and the accompanying blockchain technology was heralded as a new means of exchange and proliferated without much encouragement. It was billed as a replacement for depreciating fiat currencies and the financial system that facilitates the legal tender monopoly of most governments. But instead of being a stable means of exchange and thus an alternative to an ever depreciating fiat dollar, Bitcoin became a vastly profitable sp