Are Banks Part Of The Corrupt Forces That Rule Us?
It’s not a bad idea to believe that cryptocurrencies will take over fiat money someday. We've had a good start for sure but we are nowhere close to replacing fiat currency. I’m not saying it cannot happen over time, but just not in the immediate future. Expecting cryptocurrency to replace fiat in the near future is us just being naive.
However, we've managed to put these banks on the back foot, and that's as good as it can get for now. We cannot topple governments overnight with cryptocurrency. Certainly not in major countries without wreaking havoc on the economy. But we can push for the change; mass adoption and greater penetration.
The world is a huge place, and it isn't easy to replace a system of money that is backed by force-sometimes violent.
Recently, top Indian banks have been clamping down hard on Bitcoin exchanges, prevent deposits, slowing down withdrawals and eventually suspending their accounts. This has certainly disturbed the market slightly but it hasn’t slowed anything down at all.
If anything the users in India are looking suspiciously at banks-the supposed custodians of our money who are now preventing us to use our funds the way we want to. Seems rather hostile but there isn’t a lot that one can do against this kind of behaviour.
India is largely support by it’s rural economy. The greater percentage of our population live in rural areas. Banks in the past decade have aggressively tried to penetrate this market in hopes of providing banking facilities to the poor. Cryptocurrency is yet to anywhere close to solving some of these real issues.
Banks know this. They know that massive speculation aside many users don’t use cryptocurrencies as a mode of payment. The number of people who actually use cryptocurrencies to make payments are few compared to those who in this market for pure speculation.
For mass adoption of anything, the poorest of poor need to be able to use it anywhere, anytime. That’s why fiat money works very well even though it can be replaced overnight, like in the case of demonetisation in India. The governments will do whatever in its power to keep itself profitable.
We have every right to ask our governments to regulate this market and make it easier for us to trade. Governments have to comply but they simple don't because they know they can suppress us with force. Banks just work with them hand-in-glove.
Banks and heads of such organisation have to work very closely with government agencies and regulators. This prevents them to do anything beyond their protocols. Indian government is known for being corrupt and it comes as no surprise to anyone that the top banks have been arm-twisted into arm-twisting Indian cryptocurrency exchanges. Money that funds politics, exchanges hands in fiat currency after all doesn't it?
By adhering to fiat economy we put our futures in the hands of those we elect to work for us. However, they do anything but work for us but they work to keep their bureaucratic machinery well oiled to feed their agendas. Will we ever come out of this vicious circle? Only time can answer this question!
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If the people would know how fiat money works we would have tomorrow a revolution. This said Henry Ford (yes the man who founded Ford Motors Company) nearly hundred years ago. In 1694 the western fiat money system was invented by William Paterson. He founded the Bank of England (which still today exists) and his idea was to give the people worthless banknotes in exchange for their gold and silver coins. This was the first part of his famous paper trick. The second part was to receive the right from the Queen to print money. Before it was the right of the King or the State to print money. But now it was a privately owned bank that could print money and lend it to the State and not only to charge interests from the State but also receiving tax-secured treasuries in exchange for intrinsic worthless paper notes. The founders of the Bank of England had really nothing in value in their pockets. But with the right to print money they printed like crazy and became rich. But the British people became very poor quite soon. And if there were to much poor people in England they shipped them to their colonies. Quite soon afterwards every country in the world got a central bank. Today one country without a central bank is for example Iran. So think about why they want to conquer this country regularly. The world is run by central bankers and they became astronomical rich. Bill Gates is in reality not very rich compared with them.
Excellent comment, but do not see too far and I apologize to the Americans if my message is offensive. The United States of North America is the only country that buys the natural recuse of any part of the world with paper money that they produce and that is worth 100 thousand times less, simply and simply because they used to the world that the dollar has to be the main currency globally. the expense generated by a barrel of oil is not the same as that generated by the printing of a dollar.
I'm always relieved when someone is delivering a eulogy and I realise I'm listening to it.
a lots of learning! great
Its true that the banking cartel is the part of the evil that rules the world
All politicians make laws that helps the bankers who helped them rise to power
The IMF and the world Bank have caused a lot of problems in the world by trying to influence government policies
The biggest threat to the power of the illuminati and other such organisations is the decentralized blockchain technology and they are trying to stop the growth of crypto currency
Recently one of my friend told me that all crypto currency hype that we are witnessing is due to illuminati it belongs to them.
I don't just understand why every new innovation that human makes is been divided into two theories thats pro illuminati and anti-illuminati.
I agree with you these days banks are becoming villians of society may be because of NPA's they bear.
Well spoken
And they are managing it. Everytime the crypto market cap approaches 600B you magically see the top 100 coins (or possible even more) start to dip in value. Obvious market manipulation by big money because it happens AT THE SAME time. Once you see it you can't unsee it.
If the crypto exchanges follow the law of the land properly and pay the appropriate taxes then it is not at all difficult to run a crypto exchange in any country.....As far as crypto-currency adoption is concerned, banks may very soon issue crypto-currency that is based on their own private blockchain and hold crypto-currency values like how banks from different countries hold each others fiat currencies...I can clearly see that once the government and the banks understand how much money can be saved by implementing this blockchain technology, then i dont' think it wont take much time to replace fiat with crypto-currencies. I am very optimistic on it.....
I think it is the banks who are at the biggest loss because with cryptos adoption we don't need banks and that is how they go out of business. I learned about the bank industry from a 3 hours long documentary about central banks titled " the money masters."
On the other hand, Govts will be at benefit if they use blockchain for reducing the governance costs or doing the businesses.
The only reason why banks are against crytocurrencies is because they do not have control over it unlike other currencies.
The control the banking system has allows for exploitation of its customers and this has been on for years.
Hallelujah 🙌, crytocurrencies saved us.
However, I fear the crypto system too.
I still wonder why there's being an increase in the blockchain transaction charges recently...
Let's see how it goes.
In Poland, local banks terminated contracts with clients for trading in cryptocurrencies
@firepower I know this comment its not about your thread but i want to ask you because you look very influencer here in this network, Its recomended to upvote myself?
You can upvote your posts. But for comments keep it to those times you want it move it up the comment chain. Else, it's not a great practice to upvote your own comments but no one can stop you from doing it as well. Unless ofcourse someone decides to flag it. :)
thanks @Firepower
Yes. The banks have turned humanity into financial slavery. The banks iron fist rule on humanity will come to an end with the invention of cryptocurrency and the blockchain, whos birth came due to the 2008 trillion dollar tax payer heist by guess who?
a very great post, @firepower