Bob Murphy

Economist Explains Why Gold Is Beating Bitcoin | Bob Murphy

- Gold has outperformed Bitcoin over the past 12 months due to concerns about U.S. dollar hegemony, central bank diversification, and geopolitical multipolarization rather than immediate economic crisis scenarios. - The Federal Reserve maintains political control despite claims of independence; the White House and Fed are currently in tension over monetary policy, particularly regarding mortgage-backed securities and deficit financing. - Tariffs implemented by the Trump administration have not been highly inflationary as predicted, partly because they're coupled with tax cuts, deregulation, and supply-side economic policies that offset negative effects. - Stablecoin regulation through the Genius Act has suppressed interest payments that would otherwise allow stablecoin holders to earn yields, protecting traditional banking but limiting financial innovation. - Government economic data, including BLS inflation figures, employs subjective adjustments (hedonic quality corrections) that obscure true price inflation experienced by consumers.