Ripple CEO Comments Bitcoin and Altcoin Markets: Good News!
According to Brad Garlinghouse, recent news and data point to further declines in the dollar. Ripple’s CEO also emphasizes that this will have a positive effect on Bitcoin and other cryptocurrencies.
Ripple CEO: FED’s inflation decision is good news for Bitcoin and altcoins!
Ripple CEO Brad Garlinghouse shared his views on the Fed’s historic decision on inflation. Brad Garlinghouse believes this unprecedented monetary policy change will benefit the crypto industry and pave the way for more dollar drops in the “near term”. FED Chairman Jerome Powell’s statements on interest rates on August 27 caused turmoil in the markets.
Jerome Powell has made it clear that the central bank is willing to keep interest rates at 0.25 percent in the coming years. The 2 percent threshold, legacy of former Fed President Ben Bernanke, is no longer in the game as the Fed tries to stimulate the struggling economy. As previously reported by Cryptocoin, Bitcoin and gold rose sharply on the news impact. However, they quickly gave up their Bitcoin and gold gains and saw some correction.
Brad Garlinghouse: the global population has lost confidence in the US dollar
Earlier this month, Brad Garlinghouse stated that the global population is losing confidence in the US dollar and revealing the need for diversification. Ripple’s CEO adds:
AS THE GLOBAL POPULATION CONTINUES TO LOSE CONFIDENCE IN FIAT CURRENCIES (AS WE SEE WITH THE USD), THEY WILL CHOOSE TO DIVERSIFY. OUR FUTURE GLOBAL FINANCIAL SYSTEM WILL DO THE SAME.
Jonathan Golub: The world’s largest economy will become Japanese!
Credit Suisse’s Jonathan Golub recently told the Financial Times that he expects the world’s largest economy to transition to “Japaneseization”. Jonathan Golub adds to his comments on the subject:
WE HAVE IMPLEMENTED A VERY, VERY AGGRESSIVE POLICY IN JAPAN FOR 30 YEARS AND THERE IS NEITHER INFLATION NOR GROWTH THERE. WHY DO WE BELIEVE WE WILL BE DIFFERENT?
Although it has maintained its excessively loose monetary policy for years, a debt-stricken Japan is increasing inflation, but still fails to fix its stagnant economy.