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RE: The Limits of Debt

in #economics7 years ago

I often ponder the same question. How will this end? It is going to end. That much I'm sure of, but I just don't know exactly how. There are two main possibilities:

  1. We have a global economic collapse that makes the Great Depression look like a walk in the park.
  2. We have global war, and that war would likely include nuclear weapons being exchanged.

Neither are going to be pretty. I continue to prepare for them both but hope for the first. From the amount of fiat being spent on shelters though, I'm nervous about the odds of the second happening. We are closer to nuclear war today than ever before, and most people don't realize it.

Crypto isn't going to save the world unfortunately. The banks are the governments, and therefore the government controls the Internet (needed to make the transactions), the actual payment systems, and the transfer of fiat to crypto and back.

It is a great way to transfer your wealth over imaginary lines from one tax farm to another however.

Other than that though? I'm not too excited about it. I expect the banks will fight back. The last I knew too, about 1600 people own 90% of the BTC wealth. That's one hell of a pyramid scheme. Steemit is the same way with a very small amount of people owning most of the total wealth in the system.

The sad thing is that there's abundance to be had for productive people if the governments of the world left them alone. They won't though.