Under a Bitcoin standard, the tax payers won’t ever bailout banks again.
There is no doubt that Banks were responsible for the Global financial crisis of 2008. You would have thought they would be held accountable for such a cataclysmic event. But no. The UK government at the time (Tony Blair & Gordon Brown) actually rewarded them for crashing the economy.
With bailouts of nearly £1 trillion pounds. (That’s one thousand billion) Every banker kept their bonuses, salaries and not one lost their job for financial fraud and incompetence. With a bailout the labour government killed capitalism overnight.
They gave a green light to the banking industry to defraud the population by enabling them privatise profits & socialise the debt across the whole of society.
This brainless decision in 2008 is why in 2020 the world is still struggling under a mountain of debt.
A reset wasn’t allowed to happen and politicians kicked the can down the road.
Everyone’s favourite bond villain Klaus Schwab could be onto something with the “great reset” Did he pre-empt it or is he an opportunist looking for click bait?
Keynesian’s inside Central banks and government did not allow a natural reset to occur. They printed money out of fresh air and they gave it to those people who in real life would lose their job or go to JAIL.
They created a protection racket that’s been hollowing out many industries and pensions ever since we came off the gold standard in 1971.
Many years after the crisis, central banks continue to print money and debase national currencies around the globe.
Inflation makes 99% of people poorer over time. “Inflation is Taxation without Representation” Milton Friedman
The consequence of the monetary policy has been an increase in the wealth gap between the haves and the have nots. as shown in this chart below.
We never know how many dollars their are in the world. But we do know how many Bitcoin there is.
21 million coins is written into the code. No more and no less. only 18,633,173 Bitcoins have been released up to the exact time of this article. check Clark Moody’s Dashboard for all the latest Bitcoin metrics.
“So protect your wealth, Buy Bitcoin now so that you never have to pay for their mistakes again!”