Wolfgang Münchau is a columnist for DL News. He is co-founder and director of Eurointelligence, and writes a column on European affairs for UnHerd. Opinions are his own. Some of the folklore from boomer-era finance, the pre-crypto world of financial markets, does not apply to cryptocurrencies. But a lot of it does. If you cut it down to its bones, finance consists of three activities: lending, investing and insurance. All financial products fall into one or more of these categories. For most of history ...