Arthur Hayes predicts a bear market in fiat currencies and bitcoin to hit $1 million - BitcoinEthereumNews.com
Arthur Hayes, the co-founder of Bitmex, recently published a ब्लॉग पोस्ट where he predicts the end of the petrodollar/eurodollar monetary system and the biggest wealth transfer into gold and bitcoin that the world has ever seen. Hayes believes that removing the worlds largest energy producer from the financial system will have huge and unimaginable consequences that will not have been reckoned with. He says that he is sure that a huge financial crisis will take place: “I am 100% certain that there will be a financial crisis of epic proportions predicated on losses faced by commodity producers and traders who touch every aspect of the globalised financial system,” For Hayes, the blocking of Russia from the SWIFT payments network is only going to encourage a movement away from this system by other countries. His view is that, although there are several countries that operate the network, its the US and Europe that control it. In his blogpost he says: “Should you ‘save’ in assets that ride on this centralised, permissioned digital monetary network?”, and he goes on to pose the question whether the trust will remain that other nations will not have their ‘savings’ expropriated? Hayes thinks that hard assets that are used to hedge, such