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RE: Economic Collapse: Will Cryptocurrency Save The Financial System?

in #economy7 years ago

Cryptocurrencies arent going to save the financial system, it is going to replace it.

The present system is nothing but a house of cards built in sand on a windy day. It is mirage that is going to fall.

As the article noted, there is nothing holding together the USD (and other fiat) other than the trust people put in it. Since more are waking p to the truth, the Central Banksters are losing control.

And it is absurd to think they will create a cryptocurrency. They might create a digital currency but it will not be on an open decentralized blockchain they cannot control.

So it will be more of the same with these characters. Call it a different name but it is still fiat. There is no way I see a Central Bank creating anything that restricts its ability to maneuver it how they want. This goes against their core existence.