[English translation] Bitcoin is a "refuge from the storm"

The original text is from one month ago. The title "Port in the Storm" is translated as "Shelter from the Storm," but that also seems to carry the meaning of "making do in an emergency." If a storm hits while at sea, you should dock at the nearest port wherever you can for the time being to avoid danger and to "ride out the emergency."

In other words, this can be interpreted as, "Even if there isn’t much enthusiasm to stay in that port, it’s better than being tossed about by the storm and capsizing!" and in context it can carry a slightly negative nuance.

I’d like to read the English translation while also exploring what the author of this article thinks about using the phrase "Port in the Storm."

Bitcoin as the “Shelter from the Storm”

Monetary policy is more of a general approach than a specific policy. It is implemented in an uncertain environment where decisions are made based on theory. In that sense, monetary policy can be seen as an experiment.

Perhaps many people are not concerned with whether theories or policies that worked in the past will work today. Yet since the 2008 global financial crisis, governments and institutions have undertaken large-scale efforts to stabilize the world economy, yetthe policies used in advanced economies in the past have not produced the expected effects.

At least the economic recovery has been slow, and there has been a call for new and drastic monetary policies such as quantitative easing (QE). When people once again become optimistic and spending rebounds, inflation is likely to occur. Some may argue QE prevents deflation, but given the circumstances in which especially innovative policies are adopted, there is also no solid basis to predict the future.

The purpose of this article is not to predict or debate the future effects of QE,the uncertain environment in which judgments are made, andthe uncertainties inherent in such judgments.

The possibility of inflation when QE and consumer optimism returns is one example. Inflation in Argentina is another. The deflation felt by Southern European countries that have pegged their currencies to the euro is similar. The United States has also felt inflationary pressures since moving away from the gold standard in the 1970s.