I'd be concerned with currency fluctuation if I only had US stocks (I'm not optimistic for that currency over the short term), but with a basket of global stocks (and
hence global currencies) I'm not very worried.
Not exact matches
(Yen credit was «supplied» to
global currency markets, and was spent to buy and
hence bid up the price of euros, dollars, sterling and other
currencies.)
The size of national and
global economies was growing faster than the supply of gold, and
hence it was becoming impossible to have enough gold to back all the
currencies (inflation concerns aside).
Hence, the term bubble is more applicable to the long - term trend of the US dollar, the US Treasury, and the
global fiat
currency system, rather than bitcoin itself.
Mark Carney in his letter mentions that at present digital
currencies contribute a very small part of the
global financial system and
hence they don't pose enough risks.