Under a Bitcoin standard, the taxpayers won’t need to bail out the banks.
As they will not have the ability to speculate with money they do not have.
Banks were responsible for the Global financial crisis of 2008. The UK government at the time (Tony Blair & Gordon Brown) actually rewarded them for crashing the economy.
Now if you have read “The Creature of Jekyll Island” download a pdf here You will know that this is the ulitmate goal of the banking industry.
With bailouts of nearly £1 trillion pounds. (That’s one thousand billion) Every banker kept their bonuses, and salaries and not one lost their job for financial fraud and incompetence.
With a bailout, the UK government killed capitalism and turned our economy into perpetual corporate decandence fuelled by the arrogance and greed necessary to rob the working population.
This scam has continued since 1971 and here is the evidence.
This decision gave a green light to the banking industry to defraud the population by enabling them to privatise profits & socialise the debt across the whole of society.
Everyone’s favourite bond villain Klaus Schwab, Is onto something with the “Ze Great Reset.” Did he pre-empt it or is he an opportunist looking for clickbait?
This brainless decision in 2008 is why in 2020 the world is still struggling under a mountain of debt.
Zombie businesses continue to operate throughout every sector of society. Backed by a broken monetary system, We are currently witnessing what happens to society under a broken money system.
Research the Weimarr Republic if you wish to know more about how this ends.
Keynesian economists inside Central banks and government did not allow a natural reset to occur. They believe that you can consume before you produce. This fundamental concept is illogical. Or as we now say on twitter “regarded!”
With the politicians approval they printed money out of fresh air and 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 the chart below.
We never know how many dollars there are in the world. We know how many Bitcoin there are.
Bitcoin will only ever have 21 million coins. 18,633,173 Bitcoin have been issued to date.
Clark Moody’s Dashboard for all the latest Bitcoin metrics.