OREANDA-NEWS The former CEO of BitMEX, Arthur Hayes, in a recent article titled The Doom Loop, stated that by the end of the decade Bitcoin could reach $1 million, and gold $20,000. Hayes believes that the pandemic has revealed huge shortcomings in the monetary policy of the world's largest financial markets — the United States and the European Union. The US Federal Reserve and other central banks have begun to print money on a colossal scale, but rising inflation and sanctions against the Russian Federation are only heating up the situation.

The EU economy is very dependent on energy supplies from Russia, the whole of Europe will soon face a complete restructuring of the economy and very big challenges. As for the United States, the government will be forced to pay dividends on debt obligations that will exceed tax revenues if the interest rate increases — the Ministry of Finance will need to resort to fixing the amount of interest rates, a technique called yield curve control (YCC). YCC is the end of the system, because implicit control of the yield curve will mean the collapse of the dollar against gold and BTC.

If this trend continues, the monetary policy of the United States and the European Union may collapse — it will simply cease to exist in the form in which we know it. That's when Bitcoin and gold will become the assets where the money will flow.