News Are we ‘sleepwalking’ into next financial crisis?

Are we ‘sleepwalking’ into next financial crisis?

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Bitcoin proponents have been lately voicing alarms after the US Federal Reserve printed more money in a single month than bitcoin’s entire market cap of nearly $149 billion.

Since mid-September, the Fed has injected $210 billion into the economy, insisting the move is not a return to quantitative easing.

Meanwhile, the former Bank of England governor Mervyn King said at an IMF meeting that by “sticking to the new orthodoxy of monetary policy and pretending that we have made the banking system safe, we are sleepwalking towards that crisis.” He has also warned of devastating consequences.

Boom Bust looks into the issue where US regulators are blocking any advancement in the crypto industry, while bitcoin proponents are raising concerns over the health of the whole fiat establishment.

For more stories on economy & finance visit RT’s business section

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