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Bitcoin Corporation Destroys Economy – Bitcoin Magazine: Bitcoin News, Articles, Charts and Guides

2008 taught us nothing

We’ve experienced one of the most exciting shakes in history (and some of us have grown up), ranging from the events of 2008 to 2008 when the tools of our “innovation” in financing proved that swords we read. Like the Romans of the Old Testament, we have brought our own home upon us through the means of mere greed and lust. And with that almost the whole world.

Since that incident, unfortunately, we have not learned.

What the US regulator, with the help of the Federal Reserve, did in response to this catastrophe of our own design was to provide a bailout to the most affected organizations at the height of the global financial crisis through the Emergency Financial Stability Act (EESA). This collateral was a ploy to offer immediate value through bail and to offer future value in exchange for reducing the purchasing power of the currency. By accepting debts (or a promise to repay the loan at a later date in exchange for monetary value), these entities who had mismanaged them financially were allowed to remain. Now, yes, doing so gave some people a chance to make a living and avoid defeat, but for many there was no such relief.



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