I am still wondering how this will all end and if the pain of going through a severe economic downturn can be avoided.
This all started back in 1913 with the creation of the U.S. Federal Reserve. The government thought that the up and downs of economic expansion and contraction could be controlled by a central bank. The nail was put into the coffin when the U.S. went off the gold standard resulting in no limit to amount of money printing.
Now we have central banks printing as much as possible while telling consumers that inflation is under control. Few in the public realize that the method of calculating inflation has been changing over time. Thus hiding the true inflation rate.
One thing is certain to me, the charade can go on for a very long time but eventually it will end. As Greg Hunter says "the pretending will be ending".
In my opinion this is driving the world's monetary system toward a digital currency.
Have a great weekend!
Steem on,
Mike
As Jim Richards said, if there is a financial crisis, there is no one left to bail the banks out!
This all started back in 1913 with the creation of the U.S. Federal Reserve. - Yes, another FIAT currency creation. Well the central banks have not been able to control he up and downs of economic expansion and contraction - just look at the recessions and depressions that we have had.
Yes, we are going/moving towards a digital currency.
In Scandinavian countries, especially Sweden, and China, coins and notes are hardly used , but payments by contactless cards, mobile phones and online payments. In the UK, local banks are closing down and the number of ATMs are drastically reduced in number. Contact now with a bank is now by telephone or online.
I am still wondering how this will all end and if the pain of going through a severe economic downturn can be avoided. All I see is the creation of more debt, more deficit spending and the banks increasing their derivative exposure. NOTHING HAS BEEN FIXED!
Thanks for your informative reply.
Thank you so much for using our service! Congratulations! You've earned an ROI of 107.69% with bids of: 0.234$
Received 84.86% upvote from @onlyprofitbot courtesy of @etcmike!
More portion of profit will be given to delegators, as the SP pool grows!
Comment below or any post with "@opb !delegate [DelegationAmount]" to find out about current APR, estimated daily earnings in SBD/STEEM
You can now also make bids by commenting "@opb !vote post [BidAmount] [SBD|STEEM]" on any post without the hassle of pasting url to memo!
* Please note you do not have to key in [] for the command to work, APR can be affected by STEEM prices@opb !delegate 13000sp
Click this link to delegate an amount of 13000SP
Based on current payout, You will receive daily estimated earnings of :
APR/7 days: 16.91% || APR in 30days: 21.85% || STEEM: 35.207 || SBD: 0.980
Please note that your profit may be affected by current STEEM and SBD price. Higher payout will be issued until it achieves 100% curation reward!
If you love this service, pass your ❤️ by giving this comment an upvote
Thanks for using @edensgarden!