New technologies, such as the blockchain technology behind digital currencies like bitcoin , may in the future facilitate the convenient use of precious metals as money once again, writes Thorsten Polleit .
The Fed has a difficult balancing act. To maintain the current easy-money induced boom, it must not raise rates. But at the same time, it must also act as if it might raise rates some day, or savers will abandon the credit markets.
The Fed is talking about raising interest rates, but it knows that any move in that direction is likely to cause a recession and more economic pain. But it also knows it can't keep forcing down interest rates forever.