Mssr. Saurel left off 2 others:
1) ignorance
2) gullibility
"Temporarily introduced by Richard Nixon, this system can be compared to an experiment that goes wrong. Its injustice becomes blatant. Worse still, it wreaks havoc by harming hundreds of millions of people on Earth."
Yes. I see. Bitcoin would have always prevented things like economic downturns and made sure that there was some means of keeping people from becoming street paupers. Except, there's no such evidence. It's just carnival barking.
If you'd bought a year ago, then you'd have exactly what you have now. If you bought 2 years ago, you'd have a 60% loss. Of course, if you bought any time before 3 years ago, you'd be breakeven or even, possibly, fabulously better.
This is simply to say you got lucky then and possibly a few times since. Do you know why? No. And there's no particular reason that can be identified except for
1) increase in use of BTC for a greater variety of illicit activity usage.
2) FOMO and
3) The flood of speculation on the flood of new exchanges.
And the opacity of these effects is about that of any blind horse-bettor.
Guess what? That will not change. Are your odds better in a casino? It can't be said, since in a casino the odds are well-known and published. BTC/Crypto? There's a lot of money in guessing and promoting and running exchanges with exorbitant fees. Not much in owning it (see above).
But back to the content of Mssr. Sylvain's article and explanations. "Gold Standard", "Unfair economic system", etc. Nonsense. This is the crap that's been promoted (recently a lot of it by Russia and China to the idiots and suckers in the West) about the terrible Keynesian economics that have underpinned the longest rise in living standards since the dawn of time.
Henry Ford knew next to nothing about banking and economics except his prejudice that it was all run by Jews that were manipulating it for their benefit. This is vastly well-documented by reputable sources. I say the latter, since there is now also a vast amount of argumentation and misinformation like Mssr. Laurel's spread across the web. Start by looking at this issue in Wikipedia.
And the yammer about the gold standard, blablabla. If the gold standard were such a great basis for a modern economic system, why is NO modern successful economy on earth using it? Why have living standards accelerated to unprecendented levels in the time since it was abandoned? Why is there not a single reputable economist, banker or business person standing behind the idea?
Because it's utter nonsense and pseudo-thought meant to convince the ignorant. Sad to say, the one thing BTC/Crypto prove is that, indeed, a sucker is born every minute, at least.
