Good article Mike! Do you see Bitcoin acting as a natural constraint for over lending or over printing of future fiat currencies? It seems to me that there could still be value in fiat currencies being used to facilitate transactions and creating liquidity, but Bitcoin being an outlet as a more reliable store of value would act as a natural constraint on this getting out of control as people would stop using the fiat currency if the lending and printing wasn’t reconciled to some extent to actual productivity gains 

 If the market is producing a risk signal, then of course, that will affect the decisions of policymakers. So the answer is yes.