Are central banks losing control? | Bitcointalksearch.org

megynacuna

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Quote from: zikel on March 16, 2017, 05:23:53 AM

The central bank does not lose control. There is no reason to think so. Bitcoin does not yet have a strong impact on the economies of countries

Precisely, since they are in control that's why they are injecting such an amount to remedy the situation in case of any unforeseen circumstances. They may only Lise control if they don't have solutions to the pressing financial problems.

deisik

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Quote from: iv4n on March 19, 2017, 05:05:46 AM

Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

I wish to ask obvious question: " Where this 200 billion dollars are going every month?" For bonuses and paychecks? With this money there will be no poor and hungry people in the world. Are we aware of that as a community?

200B dollars is not a big amount

The US national debt is around 20T dollars (I don't know the exact figures), so 200B dollars monthly is equal to 2.4T dollars annually, i.e. something like 15% yearly growth in the debt. Obviously, not all these dollars contribute to the US national debt. After all, the amount of money in circulation should be enough to cover the needs of a growing economy. In this way, if an economy is in fact expanding it would evidently need more money. And the whole world economy is estimated to be worth over 100T dollars (indeed, it is not just about dollars), but 200B dollars monthly may not really be a big deal on a world scale

iv4n

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Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

I wish to ask obvious question: " Where this 200 billion dollars are going every month?" For bonuses and paychecks? With this money there will be no poor and hungry people in the world. Are we aware of that as a community?
They are not losing control, they wish situation to stay unchanged because only in this circumstances they can rob people for their own good.
Ask yourself where all that money is going, that is what is important.

posternat

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Quote from: zikel on March 16, 2017, 05:23:53 AM

The central bank does not lose control. There is no reason to think so. Bitcoin does not yet have a strong impact on the economies of countries

Yes, exactly, the economic status of one country cannot feel the movement of bitcoin, and so it does not affect it. Central Bank has a good system to lose control, so how does this speculation goes? I Think its too early to say that central bank of any country can lose control because of bitcoins and other digital currency.

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Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

Can you cite this up at all to provide some context for where the assertion is coming from? It makes it impossible to give any kind of meaningful response when the premise provided can't be evaluated for accuracy. I'd like to see where this data point came from so I can read about it.

deisik

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Quote from: pearlmen on March 18, 2017, 07:17:42 AM

Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

Central banks to me are not really losing and if the they really pumping that amount then it has a purpose which I believe has an overall effect on the economy. Going down memory lane, the central bank has even been the one holding the economy together with their policies and the moment they start failing, the economy starts crushing. And if they are doing that, its to protect everyone who will be affected in case the economy bloats itself

It is hard to tell what is the cause and what is the effect here

What I mean to say is that it more often seems to be the case when the economy first begins to slow down and then banks fall, not the other way round. Basically, central banks are trying to stimulate a stagnating economy by issuing excessive amounts of fiat (at least, that's what we are constantly being told). This is not to say that excessive amounts of fiat being injected into the economy cannot be dangerous on their own, but if we are to remain realists, there is no reason to think that most central banks would be printing money just for the fun of it. There is always a cause behind them doing that, and it is not always nefarious or evil

pearlmen

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Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

Central banks to me are not really losing and if the they really pumping that amount then it has a purpose which I believe has an overall effect on the economy. Going down memory lane, the central bank has even been the one holding the economy together with their policies and the moment they start failing, the economy starts crushing. And if they are doing that, its to protect everyone who will be affected in case the economy bloats itself.

Vivace92

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Quote from: Mitcsell on March 16, 2017, 06:16:55 AM

It is doubtful, but they may someday lose control. The global process of quantitative easing has moved to a new and yet incomprehensible stage.

Although it lost control, I'm sure the central banks could still improve because supported by law and the government, and rest assured that the central bank will do the best for us.

sportis

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Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

This a quote from a well known sociologist and historian (as he claims) named Wallerstein. He was doing this question in other words at a recent thought on China China is Confident: How Realistic? In this article he refutes China's declarations; that it performs better in the world-economy than any other country else and the second one that it is growing stronger all the time its geopolitical position. Maybe I could agree for the first but at sure I won't with the second one which refers to geopolitical place. Moreover, I am skeptic because the particular scientist is known for his theories (anti-globalization movement)and certainly is not very objective.

lordquanta

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In Todays world banks are finding bitcoin or digital cryptocurrencies as challenge worthy of taking notice. They might in phase of evaluating possible threat value from cryptocurrencies. If they find more and more people are moving towards cryptocurrencies then they will take strict action against it with help of regulatory bodies. One such example is in New Zealand a bank has closed the accounts of a bitcoin exchange without any reason.

https://www.cryptocoinsnews.com/new-zealand-bitcoin-exchange-bitnz-to-close-in-april-due-to-banks-refusal-to-allow-bitcoin-trades/

Kevin77

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Quote from: LisaLee555 on March 17, 2017, 12:55:29 AM

I am not an expert, but I am sure everything is possible. We are experiencing a kind of financial crisis today ( according to http://planetaryproject.com/global_problems/economic/ ), and it will provoke kinda chain reaction in every country, in every sphere of life.

With the usage of fiat currency, economic crisis and then stabilization are becoming most common events, happening almost with every country's economy. The inflation and unemployment are few of influencing factors here. I believe bitcoin will be the perfect solution for an individual to protect himself.

When an individual person decides to adopt bitcoin for his financial freedom, there will be no wonder that their central banks will be losing control over their economy. It is a basic human right, one can choose whatever financial system for their betterment. Still this will make the government/central banks to worry because they will be losing control over their financial system in long run.

LisaLee555

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I am not an expert, but I am sure everything is possible. We are experiencing a kind of financial crisis today ( according to http://planetaryproject.com/global_problems/economic/ ), and it will provoke kinda chain reaction in every country, in every sphere of life.

deisik

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Quote from: South Park on March 16, 2017, 03:47:53 PM

Quote from: deisik on March 16, 2017, 03:54:50 AM

Quote from: South Park on March 15, 2017, 02:22:27 PM

Quote from: bitbunnny on March 14, 2017, 04:37:45 PM

I don't think they are losing control but they will have to change their behaviour and their rules. Cryptocurrencies, especialy Bitcoin has become inevitable part of finances and they can't ignore the fact that people are using it and that financial world is changing. So, the sooner they embrace that changes, the better for them.

But this is precisely the mistake they are doing, they think they make the rules but they don’t, bitcoin has showed to them that the people can make and change the rules themselves, that is why bitcoin is such a threat to them because they no longer have the control they thought they had over the economy

That's the crucial point of your post

The problem with it is that they still have complete control over the economy, any way you look at it. Indeed, they don't have control over Bitcoin but, honestly, do they really want it? Bitcoin is still essentially nothing in terms of real economy, its impact on it is massively inconsequential and miserable at best. There are only a few merchants that accept Bitcoin in the whole world, and this acceptance is in fact entirely nominal since they convert their Bitcoin proceeds into fiat right away

I will be the first to admit bitcoin is just a drop in a big ocean and that bankers probably don’t care too much about it, but bitcoin is an important development because it gives us an alternative, just a few years ago you used fiat or fiat, bitcoin is the first alternative in a long time.

And what does it change in the end?

It is not enough to be an alternative. It should be a viable alternative in the first place and then it should get widely used to become a working alternative. Transacting with gold or other precious metals is also an alternative to fiat payments (in some sense), but it is as irrelevant as transacting with Bitcoin at a larger, world scale. Ultimately, it is the end result that matters, and Bitcoin influence on the real economy is negligible as of yet. It is just a vehicle for speculation, but that's pretty much all (if we to remain honest and cut the crap)

South Park

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Quote from: deisik on March 16, 2017, 03:54:50 AM

Quote from: South Park on March 15, 2017, 02:22:27 PM

Quote from: bitbunnny on March 14, 2017, 04:37:45 PM

I don't think they are losing control but they will have to change their behaviour and their rules. Cryptocurrencies, especialy Bitcoin has become inevitable part of finances and they can't ignore the fact that people are using it and that financial world is changing. So, the sooner they embrace that changes, the better for them.

But this is precisely the mistake they are doing, they think they make the rules but they don’t, bitcoin has showed to them that the people can make and change the rules themselves, that is why bitcoin is such a threat to them because they no longer have the control they thought they had over the economy

That's the crucial point of your post

The problem with it is that they still have complete control over the economy, any way you look at it. Indeed, they don't have control over Bitcoin but, honestly, do they really want it? Bitcoin is still essentially nothing in terms of real economy, its impact on it is massively inconsequential and miserable at best. There are only a few merchants that accept Bitcoin in the whole world, and this acceptance is in fact entirely nominal since they convert their Bitcoin proceeds into fiat right away

I will be the first to admit bitcoin is just a drop in a big ocean and that bankers probably don’t care too much about it, but bitcoin is an important development because it gives us an alternative, just a few years ago you used fiat or fiat, bitcoin is the first alternative in a long time.

Yanisumin

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Yes it is. Central banks are slowly getting drowned by their debts. There are so many factors that making in losing their control. The endless needs by the people of the country, by enriching the rich companies, losing track of what they are injecting to keep it from imploding, by the greed's of the leaders of the country. Central banks is at the brink of destruction, we don't even know if the USA still has their gold reserve. The fort Knox is said to be empty. The middle East is losing the oil reserve because people are turning into renewable energy. For about 20 years more middle East won't be able to sustain the luxury that they are experiencing right now. Is this our fault? Is our country at fault? No one won't give an answer and no one will claim. They have said that the world is a couple of trillion of dollars in debts but who the world owned? Pluto?
Even if we don't research about this, you can see that a central bank of a country is losing control when it's people is starving for death. When the countrie's population average is way too poor. A big yes for me tho'

Mitcsell

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It is doubtful, but they may someday lose control. The global process of quantitative easing has moved to a new and yet incomprehensible stage.

zikel

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The central bank does not lose control. There is no reason to think so. Bitcoin does not yet have a strong impact on the economies of countries

bravehearth0319

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Quote from: Rockie1234 on March 10, 2017, 04:21:51 PM

Cryptocurrencies are vastly superior to typical fiat currencies, but they are nowhere near as convenient at the moment. It will take a long time until a bitcoin world appears. For example, if you wanted to pay for a beverage like a Coke with Bitcoin, as of now it would be take around 30 minutes for the transaction to be confirmed, not to mention having to input the restaurant's address. It is just much quicker to hand over a note and get your Coke instantly.

But nowadays it will become difficult to adopt by the masses of that kind of payment. if that's the case the people would get frustrate and disappoint of usage in bitcoin just for a coke only they need to wait 30 mins. for confirmation, that's totally holy cow Grin

So I think it will take more years before it become convenient for the bitcoin users. In my point of view then bank is also losing control in some other way too.

deisik

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Quote from: South Park on March 15, 2017, 02:22:27 PM

Quote from: bitbunnny on March 14, 2017, 04:37:45 PM

I don't think they are losing control but they will have to change their behaviour and their rules. Cryptocurrencies, especialy Bitcoin has become inevitable part of finances and they can't ignore the fact that people are using it and that financial world is changing. So, the sooner they embrace that changes, the better for them.

But this is precisely the mistake they are doing, they think they make the rules but they don’t, bitcoin has showed to them that the people can make and change the rules themselves, that is why bitcoin is such a threat to them because they no longer have the control they thought they had over the economy

That's the crucial point of your post

The problem with it is that they still have complete control over the economy, any way you look at it. Indeed, they don't have control over Bitcoin but, honestly, do they really want it? Bitcoin is still essentially nothing in terms of real economy, its impact on it is massively inconsequential and miserable at best. There are only a few merchants that accept Bitcoin in the whole world, and this acceptance is in fact entirely nominal since they convert their Bitcoin proceeds into fiat right away

Pettuh4

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Quote from: tyz on March 10, 2017, 04:14:06 PM

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding.

Are central banks losing control?

I think they are but I don't know the extent to which they've list control but it might take some time before it becomes evident for all to see.

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