Crazy world of valuations
Italy commits 19 billion US-$ to clean up two failed banks:
This basically means that the responsible politicians think that the already failed (!) banks are worth more than 19 billion US-$.
I doubt that. The acute problems are just delayed (as happened over and over again in Greece) and in some months or years they'll need help again. At one point in time the governments and/or the ECB will be unable to pay or a hyperinflation will occur.
And there are really people out there who warn of the huge bubble in cryptocoins.
For comparison: steemit has a cute valuation of just 421 million US-$ and the whole cryptocoin realm has a valuation of ca. 100 billion US-$.
So the future of money (crypto) has a valuation of only 5 times that of two insolvent Italian banks.
... great times to come ... :-)
I think cryptos as a whole are undervalued. Of course the issue is finding the diamonds among the dung.
Always nice of the government to spend the People's money isn't it?
Great post and totally agree, please keep me updated on this matter! Will follow for sure:) STEEM ON!
This is why I am holding a little btc and ltc :)
What people tend to forget about bailouts is the fact that the bad assets are transferred to the state while the new "bank" will get all the good assets and the Italian people will be paying with their taxes these commercial banks bailout so they just extended every italian debt and that's whats happening all over the place while they claim the economy is stabilizing they say, debt based economy has to end, the bankers getting scott free of the liabilities has to end, and central banks must be stopped. The eorld is constantly in booms and busts due to the central banks manipulation so in the end everything belongs to them not the goverments not the companies and especially not the people who worked and work to sustain the central banks greed.