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RE: Get Ready for a World Currency
There are a few areas where you brag a bit :)
“I’m expert” linked to stuff about interactions with @gmaxwell. And Craig Wright and others seem to agree with me about how he railroads others (that might have changed though).
Where else? I think mostly I’m trying to be factual about what I know and do not know and what is my idea or opinion not necessary a proven fact. For example, where I stated that I had the independent idea about Schelling point and Nash equilibrium before reading Curtis Yarvin’s blogs.
Actually the link to that was here.
Does anybody know if someone has 10SP, how much would his 100% upvote be worth?
@anonymint, Grear post really enjoyed reading it. However, i dont think there is enough public confidence yet i would say everyone knows about USD/GBP/EUR but atleast 70% of people have no idea or a very small idea of what a bitcoin is so currently i dont see how cryptos will overtake traditional currencies
The Western debt-based fiat economy will die because it is funding interest payments on old borrowing with new borrowing and interest rates MUST rise (because for example zero and negative interest rates have bankrupted pensions), which will displace funding for other government services. Also eventually the governments will have to cut off all debt that is escaping to cash, gold, or cryptocurrencies. As the stampede accelerates it will by synergistic with the collapse in PUBLIC CONFIDENCE in Western governments and fiat.
Note this will not be hyperinflation because governments will not print more money to hand out to people who want to escape fiat, but instead will be capital controls, confiscation of wealth, and deflationary collapse in totalitarianism. That is why governments are trying to eliminate cash (and they know they can shut down the gold dealers when they are ready making gold illiquid). China (Asia) will probably offer a fiat that still works after 2020 when the Western fiats have become totalitarian jails. This is why the financial capitols of the world will transfer from London and New York to Singapore and Shanghai respectively by 2033 (2032.95).
And if there is a cryptocurrency which is widely used for Internet activities such as how STEEM is used every time we make a post to the blockchain, that cryptocurrency might have a chance of being there right alongside Bitcoin as sustainable because Bitcoin is not the ideal medium-of-exchange due to scaling issues and slow block confirmation period (even 0-confirmation transactions do not confirm in real-time, thus are too slow for comment posts).
Fairr point, good job!
Totally agree, just any day now.
Perhaps not quite as fast as you think? But not delayed enough! (we are not going to like what is coming)
Looks like 2018 or 2019 for the EU to start collapsing hard when the pooling of German bonds with the PIIGS bonds in asset backed securities causes German interest rates to rise. This will ignite the stampede of capital out of the Eurozone sovereign bonds and Euro into the US dollar and US stocks. That will begin the short squeeze dollar vortex I discussed in footnote #3 of the blog, because there is $9 trillion in dollar denominated bonds overseas that have to pay interest payments in dollars (thus they are implicitly short the dollar).
The US dollar and stock market will skyrocket for a year or two until that stampede peaks. Then the entire global economy collapses with Asia bottoming first around 2020 or so and thus slowly growing its way back up while the West (including the USA) continues to fall into the abyss all the way to 2033 and beyond. We will have civil war, civil unrest in the West. And we will probably have war with Russia, China, and/or North Korea (a proxy war to weaken the USA?), as well as probably ongoing in the Middle East.
Really bad, bad, hard times are coming. The brightest area is probably Asia.
Additionally all this migration into Europe is likely to cause another pandemic. I had more on that in my prior Steemit blog.
Once again i am so glad to read your posts.President Trump is more likely to start a war to erase $20 trillion on the national debt. US debt is too big for an economic adjustment programme.
Just a follow up to note that I am aware that my attitude and communication strategy might still need some adjustment.
I wrote in private:
Edit: I suppose the following is bragging:
What I am really trying to do there is challenge readers to dig into the links if at first my summary did not register as any significant information.
Absolutely fantastic article, thank you!I have gone through it again and again.
I’m trying to help lead the counter-culture. Sometimes being confident convinces people to take notice.
Jordan Peterson - Growing Up and Being Useful is The New Counterculture
Thanks for sharing this post and introducing these broad concepts to new readers. SDR system not to be implemented worldwide because IMF is way too corrupt is really not an impediment as been seen with other institutions.
I agree the corruptness of the IMF is not necessarily an impediment. Perhaps they might end up overhauling it replacing the IMF with some BIS or World Bank oversight, thus trying to convince us that the corruption has been fixed. 😏
it is a copy paste from internet :D
Incorrect. I wrote this and it is my original work. I linked to my sources.
Please do not make unsubstantiated accusations, as this is damaging to your reputation. I am tempted to flag your post which would lower your reputation rank.
sorry my friend but it is a big frustration to see so many copy paste articles here in steemit maybe if you want you could try a bit against that ....... i think it is quite unfair someone to make money on someone else work, dont you think so? besides my main faculty i am a photographer too and i know how much time is needed for someone to shot an interesting photo and there are morons who just press upload to win money without giving at least credits to the owner
All the imagery quotes and textual quotes included in my blog have a link back to the source and is afaik allowed under the fair use doctrine of copyright law.
Btw, the Economist magazine cover appears to be I believe a photograph of an actual copy of the 1985 issue.