It's been a few years since I read that, but if I recall the general theme is that we're entering into a deflationary future driven by extreme technological growth, and against that backdrop Bitcoin is the ideal currency?
would you agree with the following? Is this a fair summary?
Because of the lack innovation, people have instead invested in gov bonds because it is the safest borrower. buying treasuries in the open market pushes yields down. because the US gov is the safest debtor, this becomes the "free market" interest rate.
Yes, I think you nailed it. Not only the US government though. Low rates everywhere. Just generally speaking, government bonds tend to be perceived as the safest assets to hold.
Great article. Reminds of of Jeff Booth’s great book the “price of Tommorrow”
It's been a few years since I read that, but if I recall the general theme is that we're entering into a deflationary future driven by extreme technological growth, and against that backdrop Bitcoin is the ideal currency?
would you agree with the following? Is this a fair summary?
Because of the lack innovation, people have instead invested in gov bonds because it is the safest borrower. buying treasuries in the open market pushes yields down. because the US gov is the safest debtor, this becomes the "free market" interest rate.
Yes, I think you nailed it. Not only the US government though. Low rates everywhere. Just generally speaking, government bonds tend to be perceived as the safest assets to hold.