It is a very fragile system run by corrupt leaders. It is enough for everyone to withdraw their savings on the same date from their bank accounts for the corruption of this system to be discovered. Here I am talking about any banking system in any country because all fiat currencies are minted without a gold reserve cover or are secured with a currency that is not secured by a gold reserve cover. It is a hellish, never-ending cycle, and its evolving interconnectedness is what makes it difficult to deal with it as a problem.
This is the biggest factor that supported the prosperity of cryptocurrencies, especially Bitcoin, which is considered the safest among trading assets.
Topic: ~85% of money doesn't exist - page 4. (Read 473 times)
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Why do you think there are more and more limits on the use of cash, especially in Europe, and a move towards CBDCs? The fact that you have the possibility of withdrawing physical money from the bank can dismantle the ponzi scheme with bank runs. But as soon as the physical money disappears and only digits remain, they can continue to inflate the scheme as they please, as well as manipulating the use of the money with CBDCs.
That is why I think that in this forum, apart from raising awareness of the use of bitcoin with privacy, we should use cash in our daily lives as much as possible.
That is why I think that in this forum, apart from raising awareness of the use of bitcoin with privacy, we should use cash in our daily lives as much as possible.
I was looking at some statistics about FIAT money, taking the European Union's Euro as an example.
When comparing physical money, i.e., banknotes and coins, bank deposits, a stark difference can be noticed.
physical Euro money:
~1.5 Trillion
Source: https://www.ecb.europa.eu/euro/banknotes/html/index.en.html
All while the Euros in bank accounts peaked at a total of 11.7 trillion, now 10.5 trillion
Source: https://data.ecb.europa.eu/data/datasets/BSI/BSI.M.U2.Y.V.M10.X.1.U2.2300.Z01.E
What does this mean? There's undeniable proof that central banks know with confidence that most of the money in existence isn't destined for usage by real flesh and bone humans.
It's printed specifically to be used by governments, banks and mega corporations, that will never need to withdraw it from an ATM like a real person would.
Central banks don't even have to "print" money anymore if they want to inflate the monetary supply. They can just add more digits to a bank account.
Of course, increasing the monetary supply results in us, individual people, having to face higher prices which means our money is worth less.
Many of bitcoin's detractors will often say that it's held by too few people. Well, look at "actual money" then. 85% of it is completely unaccounted for.
Keep this in mind next time someone says anything about bitcoin.
When comparing physical money, i.e., banknotes and coins, bank deposits, a stark difference can be noticed.
physical Euro money:
~1.5 Trillion
Source: https://www.ecb.europa.eu/euro/banknotes/html/index.en.html
All while the Euros in bank accounts peaked at a total of 11.7 trillion, now 10.5 trillion
Source: https://data.ecb.europa.eu/data/datasets/BSI/BSI.M.U2.Y.V.M10.X.1.U2.2300.Z01.E
What does this mean? There's undeniable proof that central banks know with confidence that most of the money in existence isn't destined for usage by real flesh and bone humans.
It's printed specifically to be used by governments, banks and mega corporations, that will never need to withdraw it from an ATM like a real person would.
Central banks don't even have to "print" money anymore if they want to inflate the monetary supply. They can just add more digits to a bank account.
Of course, increasing the monetary supply results in us, individual people, having to face higher prices which means our money is worth less.
Many of bitcoin's detractors will often say that it's held by too few people. Well, look at "actual money" then. 85% of it is completely unaccounted for.
Keep this in mind next time someone says anything about bitcoin.
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