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RE: Economic Crash by Robert Kyiosaki - Will banks crash due to expansion of Bitcoin and other cryptocurrencies?
Very pessimistic view. I watched the video threetimes. The biggest problem I see in low interest rates of inter-bank loans. We have very cheap money (when we assume that interest rate is a price for borrowed money). This is information for enterpreneurs they can put into practise projects which are hardly evitable. In situation when the interest rate rise they will have to stop the projects and their costs get sunk.The bigger is the gap between inter -bank rate (REPO) and interest rate which should be on the free money market (between lenders and borrowers) the worse impact of the crisis will be.
I think it is very realistic view, the crisis will come and I think cryptocurrencies, blockchain and banks will play major role during the crisis, people will move from banks to blockchain. Banks will fight alongside with some governments (banks will pull strings in the government to slow down the transition) for a while, but at the end of the day they will loose.