Cheer Up: Cryptocurrency Will Replace Private bank Money
Private bank money runs the world. It is why the bankers are the most powerful force on the planet. They learned decades ago they could print their own money and conduct business outside the reach of governments and central banks.
In this video I discuss how cryptocurrency is poised to replace private bank money. Those who understand this reallize how powerful this all is. Do not be discouraged by the markets. It is just a drop in the bucket.
▶️ 3Speak
0
0
0.000
This post has been manually curated by @steemflow from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share 100 % of the curation rewards with the delegators.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
Read our latest announcement post to get more information.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
Ooops cnt watch the video... Bad network 🤦♀️ but I'll just take the encouragement... It's just a drop in the bucket 😅 I feel encouraged.
I just hope every person will see this period more as an opportunity than a difficult time... It should be easier that way.
Posted using LeoFinance Mobile
Printing your own money is nice but I still think there needs to be liquidity. There isn't much point in holding your own token if you can't convert it into what you need. However, the potential for some good liquid crypto is out there and it could replace parts of the banking system over time.
Posted Using LeoFinance Beta
Liquidity is key to the entire global financial and economic structure. We are in a liquidity crisis and few realize because they are caught up in the Money Printer Go Brrr bullshit.
Posted Using LeoFinance Beta
I used to think Banks can just print money. Now I know that's not how it works, the books need to be balanced !
Commercial banks print money by making loans (at least the major currencies). This is where the fractional reserve system comes in.
Posted Using LeoFinance Beta
Well said!
Summary:
In this video, the speaker explores the concept of private bank money and challenges the notion of government money, emphasizing that major currencies are controlled by the commercial banking system rather than governments or central banks. He delves into the creation of money by international banks, particularly highlighting the euro-dollar system. The discussion extends to the potential for cryptocurrencies to establish a reserve-less monetary system similar to what international banks have created, but without the involvement of central banks. The speaker also touches on the evolving use cases of cryptocurrency, focusing on collateralization as a significant future use. The video concludes by addressing the need for a transparent base layer in cryptocurrency and hints at upcoming developments in the cryptocurrency space, such as privacy enhancements for Litecoin.
Detailed Article:
The video opens with a critical examination of the misconception surrounding government control of major currencies. The speaker asserts that governments and central banks do not have direct control over currencies like the dollar, euro, pound, or yen. Instead, he argues, these currencies are primarily influenced by the commercial banking system. He stresses that what people typically associate with money, namely fiat currencies, is just the tip of the iceberg in the complex world of international banking.
Moving forward, the speaker delves into the creation of private bank money by international banks, citing the euro-dollar system as a prominent example. He explains how international banks disregarded central bank reserves to establish their own form of money for various financial activities, paving the way for a reserve-less monetary system. This system, he notes, operates independently of central banks and holds little value for reserves, focusing more on collateralization and ledger-based transactions.
Transitioning to the realm of cryptocurrency, the speaker highlights the opportunity for crypto to emulate the reserve-less monetary system pioneered by international banks. He emphasizes the importance of collateralization in driving the value of cryptocurrencies and foresees a significant role for crypto in this domain. The discussion touches upon the embryonic state of the crypto industry, acknowledging current liquidity issues and volatility but remaining optimistic about future expansion and innovation.
Furthermore, the speaker delves into the potential use cases of cryptocurrency, particularly focusing on collateralization as a key driver of value. He explains how the evolution of cryptocurrency, especially in decentralized finance (DeFi) applications, can lead to new avenues for monetizing different activities. The concept of "Move to Earn" is introduced, suggesting a shift towards rewarding users for their regular activities within crypto ecosystems.
In exploring the future of cryptocurrency, the speaker underscores the need for a robust and untouchable base layer supported by decentralized infrastructure to ensure security and resilience against external interference. He discusses the importance of decentralized front ends and multiple access points to enhance the decentralized nature of cryptocurrency ecosystems, making them challenging for regulatory bodies to control or monitor effectively.
Conclusively, the speaker draws parallels between the expanding landscape of cryptocurrency and the shadow banking system established by international banks in the mid-20th century. He anticipates further growth and evolution in the crypto space, mirroring the model of the shadow banking system. The video closes with a positive message for viewers and hints at upcoming developments in the cryptocurrency space related to privacy enhancements for Litecoin.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.