Cryptocurrency

[scooterscot]

The real crime with Fiat would be the way banks are creating it out of thin air. Where is the protest? Often banks are thought of deposit takers. Truth is they're money creators. Okay I want a loan, they say here sign the loan contract, then a number appears in your bank statement. Money was just created. Came from no where. And they call BTC a fraud. My god. This is why banks are so threatened by a global currency that crosses borders with ease and is in a limited supply.

Prof. Richard Werner explains it beautifully:

[BrilloPad]

What makes Fiat okay and Bitcoin not okay is merely who controls each.

[stonehenge]

There is No Escaping History: Fiat Currency Eventually Fails - Gold Telegraph

USD has only been fully fiat since 1971. Is it too destined to fail?

[scooterscot]

Far as I'm concerned the $ went to zero when the gold standard was abandoned.

There is no limit to the printing they can do. At some point someone somewhere will realise a one dollar bill is worth less than a sheet of toilet paper. On that day the currency will go down the crapper.

[VirtualMonkey]

The real crime with Fiat would be the way banks are creating it out of thin air. Where is the protest? Often banks are thought of deposit takers. Truth is they're money creators. Okay I want a loan, they say here sign the loan contract, then a number appears in your bank statement. Money was just created. Came from no where. And they call BTC a fraud. My god. This is why banks are so threatened by a global currency that crosses borders with ease and is in a limited supply.

Prof. Richard Werner explains it beautifully:

The city of london is technically not part of the UK...how true is that do you think? I've never heard that before but if it's true it amazes me

[BrilloPad]

At some point someone somewhere will realise a one dollar bill is worth less than a sheet of toilet paper. On that day the currency will go down the crapper.

I suspect the same is true of borrowing. People believe they can borrow whatever they want safe in the knowledge the government will prop up the market "Greenspan put"

[scooterscot]

The city of london is technically not part of the UK...how true is that do you think? I've never heard that before but if it's true it amazes me

What amazes me is that it takes a German to tells us!

Unfortunately it seems true. They have their own police force, the Queen seeks permission before entering the city boundaries, people resident don't have democracy, banks do, hence the opposition to leaving the EU. It's all rather fooked up.

[BrilloPad]

They have their own police force

Except for Ely Place? Norfolk police?

[scooterscot]

Woh

Tezos Gain STO Deal With 3rd Biggest Investment Bank In Latin America

[scooterscot]

double woh

Banks launder $2 trillion annually: 10X Bitcoin’s market capitalization

ATW is part of that system. A supporter of that system. Makes one wonder...

Just about $2 trillion is laundered in the banking system every year. This is ten times the market capitalization of the largest cryptocurrency. Interestingly, the same banking system is against Bitcoin and other crypto ledger and it could be because they are afraid that such a ledger would force them to be accountable.
According to a Bitcoin and crypto enthusiast Rhythmtrader:

“Banks help launder over $2 trillion every year.

That's over 10 times more money than the entire bitcoin network is worth.

Why are they then so critical of bitcoin?

A public ledger would mean their worst nightmare.”

While this happens the United States President Donald Trump is still pushing the economic war to most of the world’s biggest economies. In recent tweet, Trump said that the U.S. should also push for manipulation of the US dollar in the same way as other nations in order to match the competition.

Trump said in the tweet:
“China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to play their games – as they have for many years!”