Press release of the National Bank of Hungary
Peter Thiel, the extremely successful and creative libertarian tech investor challenged the old-school financial figures, accusing them of trying to lock cryptocurrencies out /Richard Waters, FT, Financials 9 April/10 April 2022/.
In each 25 years a new global financial regime has been emerging since the beginning of the 1920s. The second wave started around 1946, after closing World War II, within the framework of the Bretton Woods Agreement. The third wave was launched 25ys later by the US president in 1971. The fourth wave was triggered by the beginning of the Internet in 1996.
In a somewhat hidden way, the fifth wave has been unfolding since 2021. As in the beginning of the former one, it was still not clear-cut that we opened a new chapter in the modern history of finance. However, we have definitely begun our journey towards a new global financial regime last year.
Within this fifth wave of modern global financial regimes we will witness the birth of many more cryptocurrencies, new CBDCs, a new divided G-2 world instead of a G2 cooperation between the US and China, a rebirth of the role for gold and new technologies in finance.
All of them will fight all the others, similarly to the skirmishes between Peter Thiel and Warren Buffet. The same happened to the Protestant Churches and figures in Sixteen Century Europe after 1517.
Governor Matolcsy, MNB, the Central Bank of Hungary