As trade wars and geopolitical tension escalate, nations turn to gold and individuals to bitcoin. Double Down talks to Mark O'Byrne of Goldcore.com about the significance of Russia's gold purchases and China's hoarding. O'Byrne suggests that China is the ‘elephant in the room' and that, as billionaire hedge fund manager, Ray Dalio, tweeted, a hot war between the US and China is a real possibility in an age when diplomacy has died. Also, as individuals similarly flock to bitcoin rather than gold as they lose faith in the traditional banking system, the Bank of International Settlements has warned young people to ‘stop trying to make money,' but Max says that bitcoin is not alchemy, it does not creating digital gold ingots in cyberspace; bitcoin is, instead, a huge database and the BIS can't figure that out. Tune into Double Down to hear more.
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