Rising interest rates help bolster traditional currency
There were a bunch of expletives that I omitted from this note, but you get the drift.
In fact, as I write this the U.S. dollar is the strongest it’s been in 20 years, while crypto has been crushed — Bitcoin is down by half in 2022, though admittedly, it is still up a ton since its launch in 2009. Then as capital from around the world flows into the U.S., the dollar rises even more. Some economists doubt this linked effect, but I’ll let the PhDs quibble over the mechanism. For today, let’s figure out what the rising dollar means for the economy and for you.
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