The decision of the National Bank of Switzerland to abandon the flow value of the Swiss franc against the Euro has led to the fact that the franc volatility bypassed the Russian ruble.
Now the volatility of the Swiss national currency reached 261% over the decisions of the National Bank of the country. In "black Tuesday" the volatility of the rouble reached 245%.
Views:
Travis Patron
Although one of bitcoin's current flaws is its relative price instability, what is interesting to note is that it is in fact stabilizing at a measurable rate. It is estimated that if the volatility of bitcoin continues to subside (halving every 3.5 years), it could be as stable as the Euro in less than 15 years.
I wrote about this very topic on Diginomics at length.
Bevin Chu
"[We at] the Dollar Vigilante, have been talking about this since 2010. At
that time I stated that the current monetary system might last five
years but no more than ten. I now am predicting that we might get pretty close to outright collapse this year, but, if not, no more than a few years."
As Yogi Berra noted, "It's tough to make predictions, especially about the future."
But joking aside, that sounds about right given both macro-level fundamentals and recent developments, such as Russia shutting off gas to the EU.
I realize that we free market anarchists may be accused of crying wolf. But the alarms were never motivated by sensationalism. It was merely a case of when, not whether. Stein's Law means that TEOTMSAWKI is a foregone conclusion.
