Modern Monetary Theory Proponent Says Gov Will Ban Bitcoin

ray dalio

Ray Dalio, the outspoken billionaire who has suggested governments should follow the Modern Monetary Theory (MMT), has come up with a solution to the populace inevitably escaping to hard assets to escape print baby Fed. “If it becomes material, governments won’t allow it and they’ll outlaw it. They’ll use whatever teeth they have to enforce that. They would say, ok, you can’t transact in bitcoin. You can’t have a bitcoin. So then you would have to be, almost like: is it a felony? And then one would have to be a felon in order to transact. They outlawed gold! You know. What’s wrong with gold? But gold was a storehold of wealth.” Gold remains a storehold of wealth and Dalio himself reminds us that is what central banks use to transact between each other because they can be sure the money, in this case gold, won’t be devalued. At the…

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