Sandra Kilholf, Stock Exchange, Banking System discussed on Bloomberg Daybreak: Europe

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In november as comes as thousands of demonstrators rallied in central aloni yesterday against the castle on independence movement global news 24 hours a day powered by more than 2600 journalists and analysts in more than one hundred twenty countries i'm sandra kilholf this is bloomberg guy joining us now no london studios to howard davies he is the royal bank of scotland chairman good morning good morning i'm going to start slightly left the field coin is up more than twenty percent in the last twenty four hours all you a believer if it's said fox of mark yasser bucks narrow i guess the answer is that i'm not say to gray but i do think it kind of symptom of an interest in alternative payment mechanisms i'm more interested to see that the australian stock exchange has decided to use blocked chain and that strikes me as being probably in the long run and most significant story and clearly is however interesting electron it currencies i personally feel that bloomberg bitcoin highly speculative venture i don't really quite understand i fear that there will be an adjustment i fear some people will lose some money so i'm not very excited about that but i do think is a symptom of people wanting to explore alternative cheaper payment systems and i think the banking system has to respond to that soured matt mandela here in yellen we we also see i mean it's not just bitcoin there are a lot of assets obviously in none this dramatic that just continue to rise this year that really move on momentum and a total in bitcoin you have all the ability but it's really just pretty much straight up which the same for stocks which is same for emerging markets i mean what is it about 2017 that allows this incredible gain in asset prices with almost no concern for a drop well this is i think a late cycle move and it's an unusual cycle because of course it's been driven to quite a large extent by central banks providing liquidity and still doing so even though there.

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