The rise of Cryptocurrency Correlates With Authoritarianism?

The world is taking an authoritarian turn, former Merrill Lynch derivatives trader Harley Bassman noted in a December 5 “Convexity Maven” report. Could this, in part, explain the rise of Bitcoin? Or is this just another case of “Tulips for the masses?” [munger] Is the rise of digital currencies correlating with authoritarianism? In a world of nation-states, there appears to be a decided trend. In China, capital controls exist surrounding one of the most powerful leaders since Mao, Bassman wrote. In India, the country simply canceled most of the cash in the country to gain better control of the economy….