PPP purchasing power parity. Figures for Ukraine are for deconcentrated units, therefore they do not necessarily represent percentage shares of local self-government units see chapter 7. International Monetary Fund ; World Bank Data Needs and Availability 8 Subnational Data Requirements for Fiscal Decentralization in large part because of the lack of resources at all levels of subnational government to undertake the service delivery and revenue-raising responsibilities implied by decentralization.
In other words, the odds of a strong move higher are very high, in my view — let alone, amidst a continuing dollar plunge; stagnant interest rates, near the low end of their six-month range; a U.
Instead, I am simply waiting for the universal realization that gold and silver are the only assets capable of offsetting hyperinflation. I mean, every gold standard ever enacted has been destroyed by lying, thieving, governments — for the exact same reasons every fiat standard has been destroyed.
Thus, why would it be any different now — given that governments have never been more lying, thieving, or incented to renege on the monetary authority vested in them? Not that it will occur overnight, of course; but trust me, given the pace of technological innovation taking place, and the aforementioned acceleration of fiat currency decline — and confidence — it could take a lot less time for decentralized currencies to be accepted than most can imagine.
Some of which, like Bitcoin, may start to develop monetary properties as well.
Thus, the desire to circumvent governmental monetary destruction will only accelerate in the coming months and years. And while Bitcoin is the most modern form of monetary decentralization, gold and silver have been performing this role for thousands of years.
For that reason, Chinese exchange-traded Bitcoin trades at a significant discount to other Bitcoin exchanges — and more importantly, decentralized websites like localbitcoins. In other words, decentralization decidedly won out — which I assure you, will continue to be the case, no matter how hard governments fight back.
Which, by the way, I prefaced with the following disclaimer. Nor, for that matter, do they discourage it. That said, given my personal belief in Bitcoin, and its rising importance on the global monetary scene, I believe it highly relevant — if not necessary — to discuss its evolution in real-time.
Which brings us to today, when crypto-currency interest has reached a manic stage, even as actual usage has yet to materially increase. This, at a time when global political; geopolitical; economic; and most of all, monetary risks have never been higher.
And oh yeah, Precious Metal physical demand, led by the Eastern Hemisphere, is at or near record levels, whilst fiat currencies are serially collapsing, for a variety of seemingly varied, but ultimately identical, reasons.
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