Bankers and Politicians Call Bitcoin a Bad Idea, and This Is the Best Proof That It Can Succeed in Its Mission
All the major technological disruptions have been described in this way before they took hold.
Bitcoin leaves no one indifferent. Everyone now has an opinion about Bitcoin. For Bitcoiners, whose numbers are constantly growing, Bitcoin is the only alternative for opting out of a monetary and financial system that is not working as it should.
The rapid spread of the coronavirus around the world was the spark that started the great economic crisis that everyone has been predicting for years. The decisions taken by the Federal Reserve and American politicians show once again that monetary stimulus is the only weapon they know to respond to all the ills of the economy.
The unlimited quantitative easing program announced by the Federal Reserve is complemented by a package of more than $2 trillion decided by the U.S. government and the U.S. Senate. Each American should receive a check for $1,200 to help them cope with the devastating effects of the coronavirus on the U.S. economy.
The main purpose of all these decisions is to save U.S. banks, financial markets and businesses. Helping American citizens is primarily aimed at stimulating consumption to help businesses.
These measures will once again increase the circulating money supply of the U.S. dollar, which will devalue what everyone has.
Thus, the bankers and politicians who criticize Bitcoin all the time saying that it is based on nothing have just decided to create more than 6 trillion dollars. The big question they should be asked is this:What is the U.S. dollar based on if it is possible to create 6 trillion dollars so easily?
Unfortunately, I don’t think they’re going to give you a straight answer to that question.
Deep down, central bankers and politicians know that the fiat system has not been based on anything tangible for a very ...