The European Union is in the middle of a situation it hasn’t seen for its 70 year existence – the embodiment of a world order that’s collapsing. The hundreds of thousands of refugees fleeing their war stricken countries are making their voices heard with boots on the ground, in despair of their future lives. The reason for their plight – the destruction of state infrastructure and the grasp that Islamic fundamentalist now have on young Muslims – shows no sign of letting up.
There is an equal fragmentation in the economy that is less obvious: the of billions of dollars fleeing the emerging BRICS countries, this is a collapse that isn’t accompanied by photographs of entire communities left for dead on capsizing boats. And neither do banks that have trillions of dollars in outstanding loans that will never be repaid record videos of their impending doom.
The International Monetary Fund (IMF) is increasingly wary. Warning that at an annual meeting in Peru of $3tn of excess credit globally and weakened global economic outlook. But while the IMF knows there has to be a global response, there is no likely progress on the horizon. Order is falling apart all around and the powers that may save it are held in weak political regard.
IMF's Warning to emerging markets is timely
The center of economic chaos is a financial system that has gone awol. National central banks make profits at terrifying amounts by doing business with one another. The result is, the banking cartels power to magically create money from thin air out, and this has been taken to an entirely new level. Banks creating credit isn’t a new phenomenon; the system relies on the fact that not all depositors will want to withdraw all of their cash at the same time.
With the threat of an international monetary system now becoming an actual possibility, the lack of available credit and liquidity is a cause for many to pile into diversified means of withholding their wealth. This is what brings me to Steemit, I simply don’t have any faith in the current system and things have to change if we are to progress as a species.
Please comment if you have been effected by the current global economic system, whether it be in your paycheck or just the way you live your life.
Hmm, while I agree, the direction Steemit is heading as of late has some shocking parallels... Hopefully this isn't permanent.
@veralynn Parallels in what way? I'm quite new to the community.
https://en.wikipedia.org/wiki/Charles_Ponzi
Most people don't grasp how dire the situation really is and the media is doing all they can for distraction, propaganda and mass brainwashing
Well media, for a journalist is very often million and billion the same. Just rember how many times you have read a total nonsence.
A substantial part of population is interested in celbrities, recipes, horoscopes and such stupid things. Many of them understand nothing and have no real interest. Untill there is bread and entertaiment it is OK. When it changes a problem arise. I am afraid that Bitcoin will not save us.
Steemit is just a stepping stone. It excels at bringing like minded people together who have some grasp on the principles behind its architecture, and these people are the future developers of protocols that will eventually obsolete Steemit as well.
But that is not to say that there is not a lot to recommend people to the Steem system. Its' genius lies in the fact that it brings money and collaboration in generating ideas together, and a means of downgrading the attempts to game the system that every other social network and cryptocurrency has as yet failed to address.
The collapse of the star-network shaped trusted third parties whose centres lie in the Central Banks, is doomed to failure. Everyone who has done any credible amount of study of the history knows that they were long ago captured, indeed founded, specifically to enable this kind of capture. It just took a long time for the consequences to become as visible as they are now.
To me, Steemit represents the beginning of finding the solutions. Far more than just tilting the field towards the neophilic, as cryptocurrency has done up to now, this expands this up to the sharing of ideas. A competitive market in ideas is the central hub of how the new way of doing things will be recorded in history. Steem will be remembered as the beginning of the new era of regulation of social interactions, which covers every branch of commerce.
People on steem are not just sharing ideas about money but also about interpersonal relationships, and even the relationship with the self.
The excitement I feel about it is because I know that this creates a level playing field that adapts and defeats attempts to game it, and advantages those who play in good faith. Life is a game, after all. Games are how we will outgrow this dark age of violence and destruction.