Macroscope | In the crypto vs gold struggle, new battle lines are being drawn
At a time when cryptocurrencies are being promoted aggressively by none other than US President Donald Trump, among others, it is significant that the price of gold is leaping to record highs nearly every day. It is arguably even more significant that one leading cryptocurrency group, Tether, is investing heavily in gold, the same metal that cryptocurrency aspires to replace and which economist John Maynard Keynes once described as a “barbarous relic”.
These developments are symptomatic of growing disorder and instability in the global economic and monetary order. They also suggest cryptocurrency practitioners are resorting to similar tactics to those pioneered in Britain in the early 1970s by so-called asset strippers, who used…
