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RE: Global Debt Hits ALL-TIME RECORD HIGH! This is Why Interest Rates Are Record Low!
Do you think debt is ONE of the reasons why interest rates remain low for all these years, despite the constant propaganda that the economy is doing well?
Sure. All the governments would be bankrupt if interest rates were any higher.
But here come the cryptos to the rescue: I think they will devalue fiat (money and corresponding debt) by 90% through wealth transfer to cryptos. I explain this theory here:
https://steemit.com/cryptocurrency/@mexbit/cryptocurrencies-will-eliminate-global-debt-of-individuals-and-governments
Thank you for the upvote. We can only hope that more people will participate in this change that is occurring. It's not in the consensus that a financial institution doesn't need to be this big and powerful. People think that's how it should be so they can feel their money is "safe"
You are welcome.
I suppose you have not had the opportunity to read the post I linked. I think governments have not forbidden cryptos because having them rise another 1000 times from their current marketcap of 800 billion would devalue all the current debt 90% as the total purchasing power is distributed between Total issued central bank currency (currently 100 trillion USD) + cryptos (currently 0.8 trillion).
If this was 100 trillion USD in central bank currency and 800 trillion USD in cryptos, the purchasing power of the central bank currency AND SO ITS DEBT would fall by around 90%.
Then they can say that the devaluation of the pensions and bond debt is not their fault, but the evil crypto speculators fault. And then they introduce their own global cryptocurrency forbidding all the other cryptos we see today.
I think this is the game plan...
I checked it out. Great article. Not sure what's going to happen but anything is possible. There's a lot of speculation about government intervention into cryptos. I know there are many factors but I believe governments are always 2 steps behind.