Recently my fellow Bulgarian - IMF's chief Kristalina Georgieva visited Bretton Woods and hinted that we need a new Bretton Woods moment to revive and restructure the economic order of the world, or maybe at least the current payment systems.
IMF - Kristalina Georgieva - A new Bretton Woods moment
While she did not fully expand to what most of the fellow writers and readers here on Publish0X.com truly believe, namely that today central banks are forging the future inflation because no one is here to pay (government) debts, it was actually quite intriguing that she is referring to this agreement dating to 1944. Is it time for a new standard?
I found another curious take on the situation:
This video largely coincides with my personal views. Please take the time to see the video - it is a curious, humorous, and entertaining take on Georgieva's speech.. In short, central banks are now pushing for digital currencies. However, it is little known if and how these digital currencies would coexist with the traditional monetary systems. If central banks go ahead and continue to push for digital currencies, then is this the new Bretton Woods moment looming over the horizon. Would these currencies be inflationary or deflationary, would there be a new agreement and a new monetary standard?
My candidate for the standard would be Bitcoin. It is already referred to as the digital cold and despite fears of mining centralization, still remains truly decentralized in terms of having no governing body. I can now hope that Bitcoin may become the new standard - the Bitcoin standard.
The new push from some corporates to already HODL BTC in their treasury reserves also plays a significant role. If Bitcoin fails to become a mainstream payment system, it could become the leading monetary standard.
I continue to hope and HODL some in my portfolios. I keep waiting for the $1 million moment, half-jokingly, half-seriously - I now have hopes it may be dawning.