The de facto fixed exchange rate regime that emerged in the 1970s has sometimes been described as “Bretton Woods II”, which is bookended by rising interest rates. From Big Bang and the end of the Glass Steagall Act in America, western banks have increasingly financialised their activities. This has led to a climactic financial bubble which is now bursting. Cryptos appear to be a subset of that bubble.
Alasdair commenced his City career in stockbroking in 1970. Since then he has been variously a manager of unit trusts, an executive director of Ansbacher (CI) Ltd in Guernsey/Jersey, and a consultant to a number of other banks. Since 2011 he has been Head of Research for Goldmoney, a Toronto-based custodian of precious metals, writing on economics, geopolitics and precious metals.