1/🧵
The central bank system is dead. This was the case for a long time. The problem is few realized it. Instead, we watch the dog and pony show meant to present some validity to policy makers.
1/🧵
The central bank system is dead. This was the case for a long time. The problem is few realized it. Instead, we watch the dog and pony show meant to present some validity to policy makers.
I don’t know if it’s dead yet, lol more like in zombie mode right now
Arent zombie's dead? lol
That is like a pre-requisite.
2/ Since the end of WW2, we saw globalization. This is a problem for central banks since they are national in scope. Their powers end at the national borders.
3/ This wasnt the biggest of problems for a long time since the Eurodollar system took over. However, since the GFC, that system is sick. Now we see the global economy suffering and policy makers have no idea why.
4/ When the system is suffering from balance sheet constraint, we know there are major problems. This is not something that is going to clear up. In fact, it only gets worse.
5/ The central bankers can do nothing to stop it. The Fed is trying to issue out more alphabet programs in hopes of saving things. Here is where the opportunity for digital assets arises.
To read full article:
https://leofinance.io/posts/taskmaster4450le/why-the-central-bank-system-is-dead
CBDCs to the rescue!
haha
They will make everyone's life better.