On Thursday, Paul Tudor Jones revealed he had placed a substantial bet on bitcoin, arguing that the pioneering cryptocurrency was also the vehicle best-suited to outperform during the coming decade, which PTJ argued will closely resemble the 1970s due to a mix of high inflation and low growth, popularly known as "stagflation".

Of course, bitcoin is deflationary by design, making it a de facto hedge against inflation. And with the 'halving' coming up next week, the supply of new bitcoins entering the market is about to shrink dramatically as the supply of freshly printed fiat explodes.

PTJ has been warning readers about the dangers of America's "crazy" monetary-fiscal mix since at least January, which he told CNBC the situation in contemporary markets reminded him of 1999.

Of course, since that interview was filmed, the Fed's balance sheet, and the balance sheets of myriad other central banks, has exploded, while a spate of developed-world governments and central banks - via a heady brew of fiscal and monetary policy - scramble to inject as much capital into the real economy as quickly as possible, in a great monetary experiment that - as PTJ argues in the paper below - is putting 'Modern Monetary Theory' into practice.