If you think rats are bad, the stench of US's PPP is horrific. Govt printed money to bail out business to trickle down to employees, but instead they just bought back stock shares and laid people off anyways. Will the PPP ever get paid back?! Of course not, just forgiven, but it sure as hell was an easy way to justify printing $6T!
And transferring it into the hands of the already wealthy, under the guise of helping the normal citizen.
Brutal policies... and now the whole market suffers the consequences as interest rates rise and force banks into realizing huge losses on their short-term bond positions. It is all so fucked! You really gotta feel for those small countries that depend on the USD standard and got absolutely hosed by the big print and subsequent rate hikes.
Time to go crypto?
If they go gold, they end up like Ghaddafi.
I hope it works out for El Salvador to be an example. But without access to clean, renewable energy, I'm not sure how much a bitcoin standard would work in the long run for this plan to work out well for these nations.
At some point, what is pulled from the network is not the main focus, it is what is already in circulation, right?