Bank of America will impose fees of almost $150 a year. Will other banks go along?
source: Daily Mail news from 25th October 1929
It is all similar to 1920s
The Great Depression in 1929 was completely orchestrated by the central bank. They boosted the money supply massively in the 1920s all by design. They got everyone thinking how that was a new boom era and they all should be investing in stocks. All the stocks went up. The reason was, because they were bought from Federal Reserve and their cronies and they were printing so much money so that money went into the stock market and on purpose and this is all documented. Now back in 1929 they rescinded the money supply caused the Great Depression and bought up everything at pennies on the dollar and I think that's what they're going to do again. Do you see any similarity?
Lower Taxes?
They haven't really lowered any tax rates. If they do is just a small amount but they continue to go into massive deficits so all they're doing is taking away from the the taxes of what they're extorting people and they're actually just devaluing their money which is a hidden tax through inflation so nothing's changed there.
Paradox of poorness
Aaron Klein of Brookings Institution wrote a wonderful introduction to the perversity of the system in which we live. The perversion of the system, in which banks, insurance companies, shops and other service providers give great discounts to wealthy clients, while those from the middle or lower rang of the salary and wealth scale must pay full prices of goods and services. Whilst the poorer collect points on various premium cards in supermarkets, individuals who are better off, get almost automatically large discounts wherever they appear - in the managing of their bank accounts, when making insurance, while purchasing white goods or even cars.
a paragraph of his work:
And while our system operates at a scale larger than major U.S. government programs, it has largely gone unnoticed by policy makers and income inequality scholars. As a result, the less money you have, the more money you spend to just be able to use money.
Read also ...financial services fees and free checking is basically a thing of the past
I am really curious what will happen in a next World's economic crises. Will BTC and other coins drawn together with all other assets or will it have a positive impact to decentralised krypto coins.
You see, that is something that I also think about almost every day (not intentionally...I think ) . Usually in last 2 years, the biggest cryptocurrencies show us what will happen in the stock market (not the other way around). So if btc, eth, ltc... lose %20+ ....stocks will follow. But if you want to withdraw your stocks the right time (maybe that's what your question is all about), than look at US 10 year and 30 year bond yield curve. They are narrowing. Flattening yield curve is extremely bad sign AND the bond market started to gain price ( its price was going down for 30 years, so that more money could be printed...)
When central banks tighten money supply (as they have started to do) it will in time lead to an economic crash bigger than any that we have seen before. I don't know when this will happen but it will happen. When it happens they may decide to tell us that the current fiat system is broken and that we need a new system which is where cryptos come in.
I can see them doing one of two things with crypto:
If they let it grow they can point to the benefits of crypto as they sell us on why we need to drop fiat in favour of crypto. If they let cryptos crash it will give them a 'reason' to regulate and take over the crypto space with 'govt approved coins' while banning the rest. They will tell us that blockchains and cryptos are good but only the ones that we approve as the other have flaws.
Irrespective, they eventually want to move all of us over to a digital currency and that is exactly what they will do. Knowing when they will do it and timing our entry and exits are the big questions.
If they are to move the world to digital currencies they are going to have to make it very painful and frightening for people so as to make them believe that it is the best option for moving forward. When this happens it is going to be very messy.
I expect that cryptos have at least one more big run in them before they begin to turn the music off. Interesting times ahead - good article, thank you!
As you say, they want to move us to digital currency, but not to the decentralised currency, where anonymity and full speed of creationism and small business leadership is taking place. And there is a lot of cryptos in banker's accounts and they are even included in country's indexes... Thank you for your very good comment
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