The lack of trust in the custodians of fiat money has provided a fertile context for the rise of Bitcoin, the ultimate digital alternative store of value as against mainstream, central bank managed currencies like the US dollar, sterling and the euro.
Ever since advanced market central banks began rolling the printing presses, the warnings from various quarters foretelling the implosion of fiat currencies have been getting louder and louder.
For International Monetary Fund (IMF) CEO Christine Lagarde, the unconventional measures taken by central bankers – such as the Fed’s quantitative easing (QE) and zero interest rate policy (ZIRP) and the ECB’s Long Term Refinancing Operation – have been key to preventing a re-run of the Great Depression.
http://www.economywatch.com/features/can-bitcoins-be-a-global-reserve-currency.07-02.html
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