Topic: Economist predicts demise of global central banks (Read 691 times)
You don't have to be an analytic or economist to see that if such enormous growth of BTC will continue, finally it will lead to economic collapse because dollar (that is fully anchored into the global economy) will hyper-inflate. BTC once seemed to be a bubble, but it overgrown to digital gold now. If nothing changed it sounds like a new world is coming and very soon.
"You will own nothing and you will be happy."
This is what they are planning for your future.
Within a short span of time, we've seen old retailers like sears, JC penney and sam's club be rendered obsolete and put out of business by emerging retailers like walmart and amazon.
This illustrates fears of ruling elites. They're concerned someone new who is hungry, smart and determined will dethrone them. The way walmart and amazon dethroned sears and jc penney.
Their solution is to create a system where only the rich and powerful are allowed to own and control things. When they say "you'll own nothing and you'll be happy". This could describe a future system where the status quo of rich and poor is maintained. To guarantee new inventions and emerging technology which could threaten and depose those on the top of the hill, never happen.
A good example of this could be the inventor of the AK-47 who was not allowed to patent or claim credit for their invention. The USSR and state took credit and ownership of everything. That could be one possible future they envision for the rest of us.
You apparently aren't aware than not only is Sam's club not out of business, but it's owned by Walmart. Sam's Club is named after Sam Walton, the founder of Walmart. The_more_you_know.jpg.
The conspiracy theory doesn't really have a leg to stand on, even less so when it's coupled in a message that gets simple facts wrong.
The central banks could be the ones stacking Bitcoin already preparing for what is coming.
They could even be the ones planing the covid19 and the timing for the winter, all these will really make the economy fail plus the political instabilty.
I don't think that's happening. They cannot hide that information. If they were stacking bitcoin they would have reported it. Central Banks are not your average sneaky investor. The moment they touch any crypto, the word would be out.They could even be the ones planing the covid19 and the timing for the winter, all these will really make the economy fail plus the political instabilty.
You could always have central banks print money and give to someone for "secret stuff" and just tell them to buy as much bitcoin as you can. Does this make sense and are they doing it? I do not think so, they are probably not doing anything like this, but I just wanted to point out that it is definitely something possible if they wanted it but when you think about it, it doesn't make sense to do something like that.
"of course pentagon is not central bank"
There you gave the answer yourself. They are not central banks and that means they are not. Central Banks do report their holdings. Again, "They are not your average sneaky investor." They are central banks.
I don't know if that's clear enough because you seem to understand it but still pretend like you didn't.
The central banks could be the ones stacking Bitcoin already preparing for what is coming.
They could even be the ones planing the covid19 and the timing for the winter, all these will really make the economy fail plus the political instabilty.
I don't think that's happening. They cannot hide that information. If they were stacking bitcoin they would have reported it. Central Banks are not your average sneaky investor. The moment they touch any crypto, the word would be out.They could even be the ones planing the covid19 and the timing for the winter, all these will really make the economy fail plus the political instabilty.
You could always have central banks print money and give to someone for "secret stuff" and just tell them to buy as much bitcoin as you can. Does this make sense and are they doing it? I do not think so, they are probably not doing anything like this, but I just wanted to point out that it is definitely something possible if they wanted it but when you think about it, it doesn't make sense to do something like that.
The central banks could be the ones stacking Bitcoin already preparing for what is coming.
They could even be the ones planing the covid19 and the timing for the winter, all these will really make the economy fail plus the political instabilty.
They could even be the ones planing the covid19 and the timing for the winter, all these will really make the economy fail plus the political instabilty.
I don't think that's happening. They cannot hide that information. If they were stacking bitcoin they would have reported it. Central Banks are not your average sneaky investor. The moment they touch any crypto, the word would be out.
Quote from: Hydrogen
link=topic=5315644.msg56300237#msg56300237 date=1612802264
link=topic=5315644.msg56300237#msg56300237 date=1612802264
Ruling elites would never allow the control and influence central banks give them to be tampered with.
This can be a very strong point to why the central banks are coming against cryptocurrency.
That is the point. Imagine a Government not been able to have that financial control over her own nation? They know with the full blown global wide adoption of cryptocurrency, how many people, industries or other organizations will have money in banks? the Governments run the banks and that is one way the control and have the powers they do and with out this, they know they are nothing so they will continue to see how they will shot crypto down.
Remember that Harry Dent is closely associated with Mike Maloney, whose entire precious metals/wealth consultancy business predicates on people buying into the idea that central banks will collapse overnight.
I still recall in one of the joint interviews between Dent and Maloney they made a prediction that the next economic crisis will unfold as a depression then hyperinflation within the decade of the 2010s - obviously, that never panned out.
Even now, reflation expectations are rare and interest rates remain very low, meaning that the implicit expected inflation remains to be quite low.
Whilst I do agree that central banks are a construct that will eventually be made obsolete, it is nowhere as easy as these guys make it sound. It would be naive and dangerous to put all your assets into timing a central bank collapse because it would likely not pan out the way you expect.
I still recall in one of the joint interviews between Dent and Maloney they made a prediction that the next economic crisis will unfold as a depression then hyperinflation within the decade of the 2010s - obviously, that never panned out.
Even now, reflation expectations are rare and interest rates remain very low, meaning that the implicit expected inflation remains to be quite low.
Whilst I do agree that central banks are a construct that will eventually be made obsolete, it is nowhere as easy as these guys make it sound. It would be naive and dangerous to put all your assets into timing a central bank collapse because it would likely not pan out the way you expect.
I totally agree. Watching these precious metals shills on youtube is very deceptive, because they spend good money making quality videos, even whole channels dedicated to it, and they've been doing it for a long time. They can explain to you that this or that will happen with a lot of confidence, I can see how many people would fall for that.
Well, if the people were the cause of the death of central banks, I think that whoever or whatever replaces them will be easily deposed by the people, they are not like their predecessors that are deep rooted which means that they can easily be uprooted as they are still a young offshoot. The only way that the death of central bank will be unsavory for the many is when the private companies take over.
basically the central bank should not play with the people nowadays, because they are far more powerful than the institutions, imagine if they made a deal to deactivate their accounts because they felt it was difficult by the central bank regarding cryptocurrency (people who love crypto will do anything to against). Such income depends on how people feel safe keeping their wealth in the bank. then when things turn around, the bank will clearly experience a total fall.
Although there are quite a few good points being told/shown in this argument, I just find it quite hard to believe since it is leading to surreal claims. Plus the number of claims as such happened many times before already. Although I got to admit, the thought of this coming true is quite scary in a way. If it ever came true, a lot will he affected and chaos would take over(maybe). But really, things like this shouldn't be taken seriously and just rely more on experience and what you can be sure of and can be confident enough.
And it's already happening right now. The central banks could be the ones stacking Bitcoin already preparing for what is coming. but I think they are already prepared for this fall. They are not going to just give up on what is theirs, they had foreseen this coming as if they are the ones resetting all these.
They could even be the ones planing the covid19 and the timing for the winter, all these will really make the economy fail plus the political instabilty.
It is so obvious that printing and pumping money into the economy won't fix anything. Well, it might in the short run, but in the long run, it will cause trouble. Everyone knows that, but yet, the government acts like nothing is wrong over here. They probably have a plan B ready, or they just really don't care and believes that everything will go back to equilibrium eventually.
Governments know that what are the possible outcomes of printing more money to boost their economy but they don't care since they were busy with elections and blaming the opposition party all the time. They also know that they are not going to be in the ruling period all the time, it is just for 4 or 5 years so they wanted the next leader to take care of the long-term financial difficulties and this has been carried out all the time with every upcoming leader.Isn't it obvious how this future will look? We will be in a time where even though we are getting poorer because of our fiat but nothing seems to have happened. Nobody worries about it even though the possibility of inflation is very high. When this inflation actually occurs, the public will remain silent. The government is busy with unimportant matters and seems stupid.
Although there are quite a few good points being told/shown in this argument, I just find it quite hard to believe since it is leading to surreal claims. Plus the number of claims as such happened many times before already. Although I got to admit, the thought of this coming true is quite scary in a way. If it ever came true, a lot will he affected and chaos would take over(maybe). But really, things like this shouldn't be taken seriously and just rely more on experience and what you can be sure of and can be confident enough.
It's bound tp hapoen, now that the whole global economy is basically a cesspool of loans and financial ruin, the evidence of global central banks falling becomes more apparent. That being said, this also means that without a strong backer, fiat may as well fall down as a result, and if that happens, we can't say much for sure whether cryptocurrencies can sustain the global economy at its current stage, knowing that the market cap is only about 1 trillion dollars, and we have 100+ countries in the planet.
As Elon Musk tweeted: "It was inevitable"! And I agree with that statement, and I agree with your statement, it's bound to happen! You even elaborated it!
I think I remember some people from crypto who were saying the same things years ago! But nobody listened at that time, just a few believed in that. And we are hitting that trillion-dollar market cap and we know there's a lot more to go!
It is so obvious that printing and pumping money into the economy won't fix anything. Well, it might in the short run, but in the long run, it will cause trouble. Everyone knows that, but yet, the government acts like nothing is wrong over here. They probably have a plan B ready, or they just really don't care and believes that everything will go back to equilibrium eventually.
Governments know that what are the possible outcomes of printing more money to boost their economy but they don't care since they were busy with elections and blaming the opposition party all the time. They also know that they are not going to be in the ruling period all the time, it is just for 4 or 5 years so they wanted the next leader to take care of the long-term financial difficulties and this has been carried out all the time with every upcoming leader.
It's bound tp hapoen, now that the whole global economy is basically a cesspool of loans and financial ruin, the evidence of global central banks falling becomes more apparent. That being said, this also means that without a strong backer, fiat may as well fall down as a result, and if that happens, we can't say much for sure whether cryptocurrencies can sustain the global economy at its current stage, knowing that the market cap is only about 1 trillion dollars, and we have 100+ countries in the planet.
Interesting viewpoints given here. I personally think this is a pretty much nonsense and that the Central Banks aren't going anywhere anytime soon. I also am not sure Central Banks are really all that concerned about cryptocurrencies. As of right now cryptocurrencies are used by a very minute amount of people and that likely won't change anytime soon.
We might feel cryptocurrency adoption is still small with the world population but the growth has been massive over the years, even at more than 5% growth per annum. The only attractive part of cryptocurrency in the stable coin, If the stable coin can be sanitized for fraud and Government can introduce coins within their control, it could form a fraction of central bank financial system.
It is so obvious that printing and pumping money into the economy won't fix anything. Well, it might in the short run, but in the long run, it will cause trouble. Everyone knows that, but yet, the government acts like nothing is wrong over here. They probably have a plan B ready, or they just really don't care and believes that everything will go back to equilibrium eventually.
-snip-
I think the information laid out here about bubbles is ok. They try to spin the negative outcome of bubbles popping into a positive event by claiming it would destroy central banks. Which is ridiculous. Ruling elites would never allow the control and influence central banks give them to be tampered with.
Well worth watching but be aware that for every truth spoken, there could easily be 2 lies intended to serve political agendas.
I never though "destruction" of central banks would be positive event. I think the information laid out here about bubbles is ok. They try to spin the negative outcome of bubbles popping into a positive event by claiming it would destroy central banks. Which is ridiculous. Ruling elites would never allow the control and influence central banks give them to be tampered with.
Well worth watching but be aware that for every truth spoken, there could easily be 2 lies intended to serve political agendas.
Quote
Harry Dent, economist and author of ‘Zero Hour,’ joined Glenn Beck on radio recently for a terrifying discussion about what may come soon for our financial markets. He says because the federal reserve and central banks are pumping money into our financial ‘bubble’ at record speeds, there will come a time soon that the bubble naturally will pop. Dent says, despite what the masses may believe, that fueling the markets with additional, printed money will NOT save us from an economic crash — in fact, quite the opposite will occur.
https://www.youtube.com/watch?v=JxUGlVKXI_M
https://www.youtube.com/watch?v=JxUGlVKXI_M
Besides all complainments USD is still one of the best and most trusful currencies in the world, otherwise we wouldn't have stablecoins here backed by american dollar. On long run this bubble will pop, but it will take a long time yet. By that time many other countries will have suffered already so the strongest economical countries, like USA, will have time to adjust their strategies to avoid the same happening in their countries.
I think the information laid out here about bubbles is ok. They try to spin the negative outcome of bubbles popping into a positive event by claiming it would destroy central banks. Which is ridiculous. Ruling elites would never allow the control and influence central banks give them to be tampered with.
I agree. Central banks are never going to be closed. It's literally a money making machine.
Remember that Harry Dent is closely associated with Mike Maloney, whose entire precious metals/wealth consultancy business predicates on people buying into the idea that central banks will collapse overnight.
I still recall in one of the joint interviews between Dent and Maloney they made a prediction that the next economic crisis will unfold as a depression then hyperinflation within the decade of the 2010s - obviously, that never panned out.
Even now, reflation expectations are rare and interest rates remain very low, meaning that the implicit expected inflation remains to be quite low.
Whilst I do agree that central banks are a construct that will eventually be made obsolete, it is nowhere as easy as these guys make it sound. It would be naive and dangerous to put all your assets into timing a central bank collapse because it would likely not pan out the way you expect.
I still recall in one of the joint interviews between Dent and Maloney they made a prediction that the next economic crisis will unfold as a depression then hyperinflation within the decade of the 2010s - obviously, that never panned out.
Even now, reflation expectations are rare and interest rates remain very low, meaning that the implicit expected inflation remains to be quite low.
Whilst I do agree that central banks are a construct that will eventually be made obsolete, it is nowhere as easy as these guys make it sound. It would be naive and dangerous to put all your assets into timing a central bank collapse because it would likely not pan out the way you expect.
Quote
Harry Dent, economist and author of ‘Zero Hour,’ joined Glenn Beck on radio recently for a terrifying discussion about what may come soon for our financial markets. He says because the federal reserve and central banks are pumping money into our financial ‘bubble’ at record speeds, there will come a time soon that the bubble naturally will pop. Dent says, despite what the masses may believe, that fueling the markets with additional, printed money will NOT save us from an economic crash — in fact, quite the opposite will occur.
https://www.youtube.com/watch?v=JxUGlVKXI_M
https://www.youtube.com/watch?v=JxUGlVKXI_M
....
This interview resembles what we should expect from a legitimate analysis of current finance and economy situations. Except for it containing a few more talking points and contrived narratives than normal for it to be a work of independent commentary.
I think the information laid out here about bubbles is ok. They try to spin the negative outcome of bubbles popping into a positive event by claiming it would destroy central banks. Which is ridiculous. Ruling elites would never allow the control and influence central banks give them to be tampered with.
Well worth watching but be aware that for every truth spoken, there could easily be 2 lies intended to serve political agendas.
Thanks for the video. It always nice to see new analysts making predictions. No one really knows what is going to happen in the future. It is just a good guess we should not treat it in any other way. And even if the central banks are going bust, there will be something coming afterwards. I don't think governments are ready yet to give up on the money printing business. Even if there will be new currencies coming, all major governments will keep relying on printing money in my opinion.
Interesting viewpoints given here. I personally think this is a pretty much nonsense and that the Central Banks aren't going anywhere anytime soon. I also am not sure Central Banks are really all that concerned about cryptocurrencies. As of right now cryptocurrencies are used by a very minute amount of people and that likely won't change anytime soon.
Actually not only banks much big fish won't let this happens. There is too much money and it won't be easy for full migration nor they want to. Everythings will run in this way and it should be because a fully decentralized system is very unstable and can be easily manipulated. This will bring more chaos and destruction to the world economy.
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