Forget Lannisters, We Protect The World From MONEY!

petyrbaelish (47)in #cryptocurrency • 7 years ago

Do you know why I'm left the Westeros ? Because of coins ! I have to accept that I understand economics very well. But in Westeros, no matter how much you have money you always owe someone. It was never enough, although there were incredible amounts of coins. You know Lannisters always pays their debts, right? Because they are rich and smart people. But remember even Lannisters had to ask for money from the Iron Bank. No matter who have the most power is coins are always inadequate. So, I left the Westeros and come here. But I learn something and it scared me a lot. You guys are using what is called paper money in this world ! The worst part is that it is always inadequate like coins. But this time I will present my idea to you instead of escaping from this world.

Cashless society is a preventive measure to cope with the economic crisis. The global financial crisis in 2008 and the European financial crisis in 2011 caused the world economy to fall into a low-growth low-interest rate era. In order to save the economy, we lowered interest rates to the lowest levels. Central banks bought bonds, they put down the negative interest rate. The value of money at the lowest interest rate, unprecedented in the past, became a piece of toilet paper, and the money paid for it did not go well enough to have a double price of rising prices.

The world is in an era of negative interest rates, unprecedented in the past.(Like Westeros) With the easing of US interest rates and the announcement of austerity by the European Draghi ebc, the world has entered a tight fiscal cycle. If the economic crisis comes on the next cycle, The negative interest rate only for the base rate, which is the margin between banks, may eventually lead to a negative deposit rate for the citizens. If there is a negative interest rate on the deposit rate, people do not have to deposit money in the bank, and they do not need to deposit money. Therefore, a society without cash can be a countermeasure to prevent such negative interest rates and the economic crisis. In the end, society without cash and electronic money based on block chaining could be said to cope with the bankruptcy that followed the negative economic crisis. In the end, society without cash and electronic money based on block chaining could be said to cope with the bankruptcy that followed the negative economic crisis.

I'm sure there is never enough paper money for the people like coins in the Westeros. But hey, you know i did warn you not the trust me! But follow me ;)

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