As the central bankers wrap up their meeting in Jackson Hole, Wyoming, one of them had a dire warning. Mark Carney of the Bank of England warned that the world needs to rid itself of its reliance on the US dollar which is no longer fit to be the reserve currency as its share of trade sinks. As an alternative, Mark Carney recommends not gold but a cryptocurrency run by the IMF and perhaps national cryptocurrencies as well. DOUBLE DOWN asks Trace Mayer for his thoughts. He says this is merely an altcoin and that the first nation to adopt bitcoin as a reserve will be the first to get ahead. Tune into Double Down to hear answers to these questions and more.
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