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all the "safeguards" the financial instruments have, didn't stopped them from crashing the economy in 2008, bitcoin is actually a response to that, I did lost m
by down 9y ago
all the "safeguards" the financial instruments have, didn't stopped them from crashing the economy in 2008, bitcoin is actually a response to that, I did lost my job then and had quite a hard time, now the same bankers tell me what is fraud and what is not.
In my country banks moved away from their social propose lending, and they just take high commissions for everything (eg. ATM commission for seeing how much I have in my account) and buy state bonds with deposits money, they advertise credits, but they don't actually credit businesses they credit people who don't need a credit and have enough real estate guarantees to pay the loan in full, so they won't lose interest profit.
- goialoq 9y agoIf you had securities investments in 2008, your money is fine, as long as you held it for a few years before or after 2008. Only if you cashed out stocks in 2009 or sold your last house in 2010 would you be hurting. For the larger economy, there's no reason to expect Bitcoin would promote general economic health/growth more than national fiat currency.
- agottem 9y agoStocks only recovered because of unprecedented money printing by central banks across the world. That experiment is, at best, half over. I'll trust in bitcoin, thanks.
- etr-strike 9y agoStocks only recovered because of unprecedented money printing by central banks across the world. That experiment is, at best, half over. I'll trust in bitcoin, thanks.
- Aunche 9y agoThat's not an entirely accurate representation what the Federal Reserve does, but even so, it's their job to issue bonds, which helps regulate the economy.