The Economist’s cover featuring Bitcoin alongside major currencies has Twitter guessing
Twitter user @HKBelvedere recently posted a front page from the British weekly newspaper The economistaccompanied by the text:
“Another scary cover from The Economist dropped a few days ago. Do what you want.“
The cover shows a cartoon-style control panel with a lever front and center, as alert gauges show red or near red. Under the lever is the text “Regime shift”.
The addition of several Easter eggs, including a nod to Bitcoin, has Twitter speculating about the hidden message(s) being produced.
What is this about Bitcoin?
A look through the Economist’s archives doesn’t exactly show this cover. Nonetheless, given the current macro landscape, including escalating tensions in Eastern Europe, dollar strength and a flat cryptocurrency market, Twitter is awash in assigning meaning to the cover.
@HKBelvedere commented that the red dial pointing to a pound symbol, flanked by signs for yen, dollar, bitcoin and euro, on each side “is interesting.” But no further comment was made on it.
The most obvious point of interest is that Bitcoin is depicted as being on par with four major fiat currencies, including the reserve currency.
On September 26, the pound hit a record low of 1.04 against the dollar as the British government announced massive tax cuts to stimulate a stagnant economy.
The “mini-budget” effects have sent UK government bonds plunging, forcing the Bank of England (BoE) to intervene with bond purchases worth 5 billion pounds ($5.532 billion) a day for 13 days to prevent a collapse.
In accordance Bitcoin Magazinethe latest on the matter sees the BoE doubling its bond purchases over an indefinite period.
JUST IN: 🇬🇧 Bank of England DOUBLE its ‘temporary’ QE to buy £10bn a day of UK government bonds
— Bitcoin Magazine (@BitcoinMagazine) 10 October 2022
Gold bug Peter Schiff commented that the intervention has created more inflationary pressures and is “doomed to fail” as long-term bond yields must rise in line with rising inflation.
While “Regime Change” may be associated with Ukraine or Russia, given the precarious economic situation in the UK, there is speculation that the cover alludes to newly elected Conservative Prime Minister Liz Truss being ousted after the disastrous “mini budget”.
The Economist has form with “creepy” covers
Twitter scouts have commented on less obvious Easter eggs. Referring to the discs above the lever, @ZeroSomeGame posted that it could mean 5 8 6 9, which could be related to a panic button usually installed to call for help.
The dials above the red lever are set to 5869. First Google result… pic.twitter.com/H0AEKUPzX1
— Zero (@ZeroSomeGame) 9 October 2022
@CryptoShadowOff linked the cover to comments by Russian General Andrey Gurulyov, who said in June that London would be attacked first if World War III broke out.
The Economist was founded in 1843 and is considered a very influential publication. Over the years, some of the covers have accurately predicted future events, leading some to believe a connection with “insiders”.
