In the past I was always wondering why governments did not act regarding the rise of Cryptos, now I feel quite convinced to know why.

It obviously could be that the people in charge have themselves invested in this space and are enjoying the appreciation but most likely I think it is this reason:

Almost every country is in debt up to their eyeballs, banks are highly leveraged and consumers have maxed out their credit cards or student loans.

So how could one fix this mess?

With cryptos... yes... the global money supply of all normal currencies is about a 100 Trillion USD (USD, YEN, CNY...). Cryptos only account for 0.5 Trillion as of now.

So why not let banks by them first, hold them on their balance sheets and then let it rise to, for example 1000 Trillion? Everybody would be using cryptos by then, and the purchasing power would be in the hands of the holders of cryptos... the market would basically devalue all the old debt, which would be defined in USD.

• Pensions would be devaluated totally
• Government bonds would be worthless
• Mortgages, Student loans and consumer debts would be worthless as well
• Banks would have healthy balance sheets

Then, and only then it would make sense to issue a new worldwide government currency, under the control for example of the UN, linked to every social security number of everybody on earth, and using the best scaling technology that has arisen from the free market, which some tweaks in order to give centralized control of the new issuance to the UN.

The SDR concept was nice as of 20 years ago, when there were no better means of accomplishing this. But now with this new technology at hand? Brace yourself!

Already many countries have announced introducing their own Cryptocurrency

• Ecuador was first
• Russia
• China
• Venezuela

and surely many others will follow soon. The next announcements will be following soon... I guess that a technology like IOTA might work very well big scale. And I guess engineers are already working on the implementation at the UN level. The announcement for this might come after a global ban on all cryptocurrencies on a global level, all exchanges banned and proceeds from cryptos at the same level as drug money, so that the usefulness dissipates.

This ban in my vision would be announced when the valuation is multiple times the current amount... Perhaps a 1000 trillion USD? Or only 200 trillion? I do not know... But clearly I think if it gets to parity with normal currencies a massive flight to cryptos from everybody and their grandmother will start.

Disclaimer: This is only my opinion and no investment advice.