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Why Bitcoin? This is why. A must watch.

Donald Amstad from Aberdeen Standard Investments delivers a sobering assessment on the state of developed market economies.Livewire Markets is an Australian based investment website providing access to the investment insights and opinions of fund managers and investment professionals. Registration is free and gives you access to our daily newsletter featuring the most popular articles and videos. Visit the Livewire website for more information: https://www.livewiremarkets.comDeveloped economies are at a crisis point, the powers of unconventional monetary policy are exhausted, and markets are just beginning to wake up to this. That’s the sobering assessment on the current state of the global economy delivered by Donald Amstad from Aberdeen Standard Investments His view is that when developed markets finally crack, there will be serious implications for every asset class and economy. However, those economies where monetary policy remains relatively ‘normal’ will be those best placed to respond. In his view, the emerging markets have more levers to pull when compared to developed markets, where the money printing taps have been turned on and interest rate settings are near zero.The irony is that during the Asian crisis it was the IMF and central bankers from developed markets that convinced the emerging market governments not to print money and ‘take their medicine.’ Amstad says that this was a cathartic process for these economies, and they are now looking on in bewilderment as the West has resorts to money printing of an unprecedented scale.“In the emerging world, economic and monetary policy is broadly orthodox. It is the West that is running unorthodox economic and monetary policy and it is the West, ironically, that is now on the cliff edge.”Implications for investorsAmstad says that unconventional monetary policy has been pushed to the limit and that negative yielding bonds are playing havoc with pen...

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