We all know the banksters are a bunch of crooks. Their behavior in the collapse of the world economy a decade ago removed any linger doubt that could be in anyone's mind.
Of course, they required the bailout from the taxpayers just to keep afloat. We were told that if this action was not taken, the entire financial system would totally collapse.
It worked....people bought it. And the world was saved (or so we are told).
You would think that these con artists would change their behavior. Not a chance.
As we saw, they are pulling out all the stops when it comes to Bitcoin and cryptocurrency. They are going to do all they can to maintain their place in the pecking order of society, which is at the top. The government henchmen are the first ally in the fight. Bitcoin opened up a can of worms that is drawing the battle lines.
Personally, I am very confident in the power of decentralization and believe the proverbial cat is out of the bag. The war is won, the banksters are cooked. They simply cannot turn to the usual entities to strike this thing down. Cryptocurrencies like Bitcoin truly are beyond their control.
Nevertheless, the mess of a bankster run world continues.
Reports are out detailing how the banksters have been fined $243 Billion since the financial crisis. That is almost a quarter of a trillion dollars in fines.
Are you kidding me? And the mainstream media continues to chide the likes of Bitcoin. This is beyond a joke.
But have no fear, the banks, as part of their settlements of these fines, do offer loans and debt restructuring to lower income people. So, in lieu of cutting a check, they simply issue more debt for which they get paid fees and interest on.
The next 10 years are going to be exciting as the financial system is totally rewritten without the banksters approval.
I am glad I hold some Bitshares.
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It has always been impossible for almost 2/3 of the worlds population to have access to the financial system. Centralized control systems did not allow it.
Until Bitcoin happened. It does not ask permission. It just banks all the previously unbanked. I can already feel the power balance shift and smell the ancient rulers fears.
Well Task,
You and I both knew that 2018 would be a great year for crypto, but that it wouldn't be easy and the waters would have to shake a lot.
We're seeing the shaking right now, I was already expecting it, but we need to keep our eyes on what is going to come next.
Cheers
I hear the Stock Market is doing great today haha. Can't wait for that house of cards to topple. Granted, I'll get me some cheap stocks at the bottom after the carnage that's coming ;) Keep printing that juicy fiat, the more the merrier for deflating crypto currencies!
Can you imagine if you or I lent out money that we didn't have (capital ratios so just digits on a screen) - errr, ponzi anyone?!! - and then had the gall to charge interest on the cash "that we never had" and repossess assets if there is a sniff of a default on payment. The mind boggles - set that moggy free!
Thanks for the thought provoking post. Cryptocurrencies are the "peoples money". Such a revolutionary concept. Here in the US congress originally was responsible for coining, printing and managing the supply of currency, but they abdicated to the pressures of Banksters and ultimately allowed the FED to take the reigns. The magic money pumped into the economies ("quantitative easing") of both the US and the EU eventually found its way into the pockets of the 1% but also fueled the expansion/bubble of the stock market. There was much alarm among libertarians and anarchists alike when monetary growth expanded so exponentially threatening massive inflation. What happened instead was an inflated and expanded stock market and credit reserves within banks with fairly limited inflation of the dollar. However, the foundations of this imperial house of cards are shaking. What we will experience in the next few years is a swarm of small "earthquakes" before the tectonic plates beneath our economy ruptures too violently then the house shall fall. At that time I am not certain how cryptocurrencies shall fare but am inclined to think that after some time of chaos they shall do well. But it will depend upon enlightened thinkers who see the days of evil Empire are at an end and that the age of the sovereign individual has come. Let us hope so. Thats one reason the growing phenomenon of steemit is so valuable. This is the future. This is a spark that may ignite greater freedoms and independent thinking. This is exactly why nations are clamping down. The Chinese people in particular have tasted their first cups of personal freedom and want more. Will they overcome the tyranny of State or will they slip back into a homogenized society meekly bending knees to authority? Unfortunately, for them at least, the past predicts the future: subservience (in my opinion... which I hope is wrong.)
Very few people understand that when the next financial crisis hits, there will be bail-ins rather than bailouts. All perfectly legal. Banks will steal people’s money directly rather than indirectly as they’ve become accustomed to.
I only have a small amount of BTS, really need to acquire more at these fire sale prices
If @stan is right, a small amount will become very valuable.
He is pushing to 1000X it....
Wouldnt that be absolutely wonderful.
As for the bail ins, arent countries with negative interest rates doing that already? Simply taking money out of people's accounts?
Negative interest rates are insane but I guess that insane is the new normal. I have yet to see any argument even trying to explain how negative rates make any sense at all.
But bail ins that I’m referring to happened on a large scale in Cyprus and with several Italian banks (leading to at least one suicide). See this article for instance:
http://investmentwatchblog.com/bank-deposit-bail-in-law-is-biggest-threat-to-average-usa-g20-savers-hsbcs-james-steel-gold-is-a-highly-regarded-asset/
After the Cyprus “experiment”, the European Union and the United States both quietly wrote bails-ins into law. Anything to save banks.
Currently the all Indian banks are in really heavy depth approx ₹7.2 lac carores Indian rupees. And they are pressurising govt to take some of the weirdest steps demontisation of high currency notes was one such example which was carried out last year and made common man suffer alot.
Now people's faith in bank fading as they are implementing the hard rules that eventually leads to common man suffer miserably.
The cryptos are also not spared by them,finance minister sent over a lac of notices to crypto investors, actually banks are making every effort to somehow stop cryptos,but it's the future they can't control it,they will make some regerous efforts but in the end they have to accept it.
Haha Banksters are all crooks indeed.
Wall Street is in for some serious shit storm ;-)
Yeah wait until people have the option of buying stocks on decentralized exchanges...that will really put a hurting on the entire financial world and the banksters in particular.
Yes, it's very exciting times we're living in. People start waking up and understand the rules of the games are changing. We have enough story lines for a hundred comics ;-)
It's coming. My bread Bitcoin wallet is now selling Bitcoin direct in the wallet albeit through Simplex. Things are moving on at a phenomenal pace. Just wait til we get our fully decentralised exchanges. God help the Central bankers! Lol
Nice post. Financial crisis in 2008 was really eye opening for me. I highly recommend documentary "Inside Job" if you still believe in this corrupt system.
That's a great doc, also worth watching Naomi Klein's The Shock Doctrine. If you look at the Tories running British politics this is exactly what they are up to.
you are right... banksters really don't like cryptocurrencies because it depreciate their value. As the users and value of cryptocurrencies increase, the value and number of bank staff decrease...
My little opinion...
Bank marketers only advertise to customers that banks staffs are not needed again...
The staffs also carry their ID card about in form of a sack letter
Yes, it's only a matter of time until we see something big happening. I hope that in 10 years we will see those banksters collapse completely and cryptocurrencies going so mainstream, that everyone will be holding some sort of coins. What if FIAT is completely worthless in 10 years? What if cryptos are the only currencies? Would love to see that!
Seem like they want a piece of action! lol well problem is no one get paid in real cash it is all virtual coin not real currency! when did we declared virtual coin as a currency? when you see the $ sign in that lending wallet it is not cash but potential value from what i understand by the way guess fake currency seem to be a problem. pretty soon they going to tell the world how to eat sleep and dress as we are not good enough to decide what is good for us as a society anymore! sad what this world has become. too much law and order.
Cryptos have come to stay, no one can stop it.
Thanks for sharing i will done up vote I always see your post. And follow you
yes decentralise everything especially our money. let's break free from the matrix! But caution is needed when considering buying Cryptocurrency. The following is from a very reputable financials site .....
wow! great work. nice post with beautiful word.
So why do we trust them with our money again? Oh ya, it was the only option... But look!
NEW OPTIONS
+wallets ofcourse
The world as it currently stand is a very unfair place, and the only hope on the horizon is decentralization.
Their job is to lie and deceive, that's how they do business, and that's how they plan to protect their corrupt operations.
If they feel threatened they do the only thing they know how to do, to lie and lie again and again.
They trash crypto, but they know they won't be able to stop the takeover.
great to see your post.
your post is too important for us.upvote @reesteem done...
The media are complicit in the corruption of the banking system. The propaganda they issue on a daily basis just makes me sick. I turned off the TV about 3 years ago and have never regretted it.
Thanks for the timely info.
I clicked the manna coins referral's link, and I registered already but I need to be sure of receiving the coins before referring and moreover, are the coins withdrawable?
In short, how does the manna platform operates?
Too many questions?
The current Secretary of Commerce, a ball of pus known as Wilbur Ross, stole my house in 2009... OCWEN Mortgage company is a den of evil.
The hedge fund guy who called bitcoin is a fraud is an example of calling the kettle black. The whole idea of the block chain was to keep people like him honest and to stop them from defrauding the people.
Very good post friend. Thank you very much for sharing the information. Ta I follow you and I leave you my vote. Greetings.
I am just visualizing the near future, when all the assets will be tokens in a decentralized exchange, which no borders, no way to any government interfere and all people buying not only coins, but stock in the blockchain.
That @taskmaster4450 will be the end of a era and a begging of a new one!
They tell us that bitcoin is a scam because they want to buy it cheaper and Hodl as many they can for themselves. :)
Well, the divide and conquer strategy is perfectly working out. It's the best strategy to win wars, especially when you want to keep your power and silently overtake one of the parties that you blame to be the reason for your failure. I don't believe there is anything going on, that is not perfectly calculated and approved by the banksters.
haha I'm already beginning to sound like some crazy conspiracy theorist, which I'm not. Just trying to bring in another perspective. The solution to this game is a movement that is so close together in a higher goal, so that the "divide part" is made impossible. That would need a lot of strength and focus on a common goal, that most of the leaders in "our movement" are not showing at the moment. If blockchain technology and decentralization is the common goal, we should do our best to focus on that. Will we be strong enough in our vision?
I believe you are right. I have to think that the blockchain is going to rule the world. Not the banksters in the future.
Thank you
Francis
I didn't know that banks were fined that much for the crisis. That's a lot of money. I think that decentralization is the first step to making a better economy, and that it will reveal the next step to even further the strength of the economy.
Nope - they Don't have balls. That's why they got bailouts.
We surely live in exciting times ! A much needed financial revolution is underway and I don't think they can do something about it. My biggest concern is if they somehow "change it" themselves and convince the masses that decentralization is "bad for them".
I think the next recession is going to be a huge with for blockchain. People are going to be looking for income and we'll be waiting. There is talk of one coming by the end of the year.
If the block chain technology must maintina its become surge and become the global new order, it must avoid the pitfalls of the same banksters many criticse today. Else, it takes no time to become what we dislike in others.
There are advantages that must be leveraged on, and weaknesses that must be strengthened in the block chain technology. Only then would we be confident that what we have on our hands can stand the test of time and even begin a new chapter that would pass on to generations.
I am up for all the excitement and because I care so about more about the block chain technology, particularly Steem/Steemit, I want a strengthening of the system to improve it, increase public confidence and it growing into a readily accepted alternative to the current encumbered monetary system.
That's a task we must all commit to, my amazing Steemian, @taskmaster4450!
Thanks for all your beautiful write-ups.
Here in India there is scam after scam of the banks having shady deals and loans given out to corporates and businessmen who never had the means or plans to pay them back. And these fraudsters flee the country just before the new comes to the media and the law enforcement gets into action.
Only this week did the latest fraud come out, robbing a nationalised bank of $1.77 billion!!!
And they say cryptocurrencies are Ponzi schemes!
Interesting article. I'm pretty sure that bankers have irrevocably lost their little battle. So, as their greed is not when not to defeat the kindness and generosity that we see in the world of crypto and Steem in particular.