finding it very hard to comprehend narratives about the just and legal way courts, ministers and legal authorities are affecting the market.
One reason Bitcoin was created because the banks around the world stole everyone's money 2008 GFC
yet here we are quoting these authorities as gospel
With so much corruption it is easy to ascertain what those in position of market manipulation are doing, they nearly all tied at the hip and benefiting of each others knowledge
I dont think the deal with the banks is new especially. Bank failures have occurred previously, boom situations that blew up even but the most obvious difference now is large central government. The banks are a side story, the main reason why banks could not be allowed to fail in 2008 was because they are backstopping the government debt that has become so common. Is that what made the Lehmans CEO so damned determined to carry on, he calculated on this effect. Certainly debt influence is evident in Japan and USA and many other western economies with faltering GDP growth for many years.
Im told China has a debt problem, they have a lower working population occurring every year but I dont think thats going to be a near term failure for them. But the banks I dont see as the primary cause of past or future failures, I think its something like 90% of mortgage debt in USA is operated by government. Part of the story for 2008 was loan rates set low by Federal reserve dictating its central interest rate from coast to coast. It was wrong to do that in some areas, maybe overall it was wrong but nobody can challenge a bank of that power and size.
Like that line I heard, when the dot com bubble burst the prices for houses in silcon valley went up. Im not blaming the banks for that strange price movement, I blame the system of subsidies that comes via central government
It might have banks dealing in it but its the government allowing that debt to occur and accumulate further. The normal process is for debt to get called out, rates rise and ratings reduce for those with poor history. Theres a kickback effect to poor returns that restricts further growth of those negatives.
Government is not a competitive market, it can become massively wrong because it goes unchallenged. I dont care who in politics is right or wrong but the system overall of untested debt, non competitive market and unilateral laws is probably allowing a greater future failure to build up. That means 2008 is going to reoccur in some shape or form. Those events were just a tremor compared to future failure seems likely, going by trillions owed and trade deficits etc.
Hows that pair into crypto I dont know. At least one view I heard is crypto relies on loose dollar and cant survive without it. Or it might thrive with the world aware and accepting debt must be ended/paid, leading to devaluation of dollar and higher prices for everything priced in dollar
