It's official: Cryptocurrencies are a threat to the global financial system!
Something I've said since 2011 (which got me ridiculed/shunned by much of the precious metals and monetary theory community on YouTube) is now officially 100% correct: Cryptocurrencies are a threat to the status quo!
Today, October 14 2019, the G7 (world's seven largest economies) just announced that cryptocurrencies - specifically 'stablecoins' which are cryptos pegged to fiat currencies like the Dollar - may soon collapse the world's financial system!
In 8 years, I went from "the guy with the idiotic predictions about Bitcoin" to "that guy who saw it coming before anyone else", although other than myself, nobody will ever give me credit for it.
If you're tiring of all my "I was right all along" posts in recent years, I apologize, but take heart: there can't be very many more to come. After all, essentially everything I've ever predicted (and there's a lot) has already come to pass. I've been more right than anyone I know. If you know somebody who has made more calls than me, going back as long as I have, and been right about literally all of them, please speak up because I want to hear about them!
Stablecoins include Tether (USDT), Libra (FaceBook), and JPM Coin (JP Morgan). The status quo is worried that cryptos are faster, cheaper, and more private than traditional currencies, and have finally admitted I was right all along: this could be about to bring down fiat currencies, fractional reserve banking, and the current financial order!
Got cryptos?
DRutter
What was a wacky conspiracy theory 10 years ago is common knowledge today.
Many saw it coming.... but by "many" we mean a handful. Even today in 2019, are the masses really aware, really invested in cryptos? There's probably a lot more mass adoption yet to come!
Ah yes, Quite right.
could-stable-coins-crash-the-economy
I wrote about this exact topic 9 months ago.
Corporations are about to find themselves wielding way more power than they can handle. An entire corporate shadow-banking system is emerging right before our eyes, and they certainly do not have the self-control to stop themselves from exploiting it into the ground immediately.
Nice post, hadn't seen it!
It's a mathematical thing. There's no ill intent on the part of the stable coins (or whatever you want to call them). It's just something that is bound to happen, in a free market... and cryptos are a fairly free market at this point.
You're right about the corporations planning to exploit this new world to the best of their ability. I think new real cryptos will appear, to counter this new government and corporate digital currency push. At the very least it's interesting.
I wasn't even Stacking silver in 2011 but at 2015 realize the usefulness of Bitcoin and began collecting crypto along side Precious metals. So I can give you credit. Take a bow.
Posted using Partiko Android
that's cool you got into crypto before metals... a less typical story around here.
I hope you're right all along about STEEM too! lol
Nice call and let's hope the take down does not take to long.
Posted using Partiko Android
Hey man, in looking at your posts, you need to up your tag game. People are more and more on the lookout for tribe and curation tags looking for something to vote. You're tags are topical, but you could have hit this one with a steemleo tag for example.
All these tribes have different rules for using their tags, but the upvotes can come in both the tribe token and steem.
https://steempeak.com/tribes