Charles Hugh Smith posits: "Could a non-state issued digital currency like Bitcoin become a global reserve currency?"
Seriously? Really?
The answer is no. Next.
First, Bitcoin is no more a digital "currency" than a share of Apple stock. Like any (in)security, Bitcoin is a bet that people swap for value. Nothing more. Nothing less.
Second, the powers that be will never allow anybody to control the Money Power that is theirs by right. This dictate is thousands of years old and won't be defied by Austrian Cargo Cultists like CHS. I wish you luck.
But useful idiots are useful. Unfortunately, CHS is most useful to the windmills he believes he tilts against.
