http://www.acting-man.com/?p=22299CONCLUSION
The moral of this story is that the free markets crave a solution to the pricing mechanism of economic calculation. Sound money, such as gold, remains a caged lion lashed about with regulation resulting in economic censorship. Even if censorship-resistant Bitcoins fail, and they could, they will still have played a part in this great saga of power versus market.
Bitcoin has demonstrated that the free markets demand a fixed and free currency supply. Bitcoin is forcing the elites to reconsider gold as a monetary system component in which they are still included in the narrative and not completely routed around.
They may see their frightening alternative as alluded to by the European Central Bank’s report on Bitcoin. If they do not comply with this market demand then their power base, derived from their ability to issue fiat currency, may be completely eroded and therefore their entire existence could be replaced at the click of a button by billions of individuals.
By James Cox
