If you want to know where International Finance is going if these wannabe rip off artists get their way, just look back at the history of regional and local banks prior to the advent of the FDIC. (No currency had stable value, banks together with their deposits vanished overnight, etc.) If those pushing crypto succeed, the US dollar will…
If you want to know where International Finance is going if these wannabe rip off artists get their way, just look back at the history of regional and local banks prior to the advent of the FDIC. (No currency had stable value, banks together with their deposits vanished overnight, etc.) If those pushing crypto succeed, the US dollar will no longer be the main international currency, which means that there will be no currency in the world that can be depended on to keep it's value.
International financial chaos will ensue, but that's what they want because chaos leaves far more room for making a killing ripping people off, whereas a well organized, stable system of International Finance cuts such opportunities to a minimum.
Since making money and growing rich are the current religion of the billionaire tech bro crowd, with the motto, "the one who dies with the most toys wins," their overarching motivation, and with Trump's mental illness(es) making him massively easy to manipulate, I suspect we are headed for such chaos, unless "Skynet," "Comet Dibiasky," a global climatological tipping point and major weather catastrophe, or the arrival of something like the "Independence Day" aliens gets in the way.
The old fashioned, FDIC insured banks at the state and local level are likely to stay reasonably stable, but for the National and International banks and Equities markets such chaos will reign with no way to verify the claimed value of anything, that the problems from back in 2008 will look like a walk in the park (careful what you wish for, Mr. Dimon) .
If you want to know where International Finance is going if these wannabe rip off artists get their way, just look back at the history of regional and local banks prior to the advent of the FDIC. (No currency had stable value, banks together with their deposits vanished overnight, etc.) If those pushing crypto succeed, the US dollar will no longer be the main international currency, which means that there will be no currency in the world that can be depended on to keep it's value.
International financial chaos will ensue, but that's what they want because chaos leaves far more room for making a killing ripping people off, whereas a well organized, stable system of International Finance cuts such opportunities to a minimum.
Since making money and growing rich are the current religion of the billionaire tech bro crowd, with the motto, "the one who dies with the most toys wins," their overarching motivation, and with Trump's mental illness(es) making him massively easy to manipulate, I suspect we are headed for such chaos, unless "Skynet," "Comet Dibiasky," a global climatological tipping point and major weather catastrophe, or the arrival of something like the "Independence Day" aliens gets in the way.
The old fashioned, FDIC insured banks at the state and local level are likely to stay reasonably stable, but for the National and International banks and Equities markets such chaos will reign with no way to verify the claimed value of anything, that the problems from back in 2008 will look like a walk in the park (careful what you wish for, Mr. Dimon) .