Cryptocurrency: Giving The Global Economy The "Tools" It Needs
We have a liquidity crisis taking place in the USD. All the QE has locked up too much money in the banking and financial system. This means there is not enough in the global economy.
In this video I discuss how this is not a recent event. The last few decades saww the global growth rates slow, especially in the US and UK. Could cryptocurrency solve this problem? I believe so.
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Do you think the lower interest rates by the banks (when they come) will spur enough money in the economy? After all the loans they make will affect the economy. I do agree that Apple buying back it's stock doesn't help much either
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No. The banks are not lending to small businesses. They see rough economic waters ahead. We already have very low interest rates, in comparison to historical norms.
This economic situation goes far beyond the present circumstances. This started in the late 1990s. Look at the declining growth rate in both the US and Europe during that time.
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Well from my observation I have seen how this space has been a catalyst for technological development and wealth creation. It might seem bubbly but it is more opportunity than what's obtainable in the traditional financial system. So coming from that angle I do see the usefulness of the crypto sphere.
Crypto is obviously very useful. We will see what happens in the future.
My view is politicians will continue to screw a lot of things up. This is going to make for rough times ahead.
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Summary:
In this video, the speaker discusses the global growth problem and proposes that cryptocurrency can solve it. He argues that the traditional banking system has failed to provide access to necessary funds for innovators and entrepreneurs, leading to economic stagnation. The speaker highlights how quantitative easing and increasing debt have restricted the flow of money into the economy. He suggests that cryptocurrency can fill this gap by providing a way for individuals to fund their ventures through decentralized platforms and tokenization. The speaker believes that cryptocurrency has the potential to stimulate economic growth by empowering overlooked innovators and small businesses.
Detailed Analysis:
The speaker begins by addressing the global growth problem and questions whether cryptocurrency can be a solution. He criticizes traditional banking systems for their failure to provide access to funds for innovators and small businesses, leading to a decline in economic growth rates. The speaker attributes this stagnation to several factors, including quantitative easing and increasing debt levels.
He explains how quantitative easing by central banks has ended up tightening economic conditions rather than stimulating growth, as commonly believed. This has resulted in a lack of money circulating in the general economy, with a significant amount being locked in the banking system. The speaker points out that banks are not lending to small businesses, which are essential for creating economic growth and productivity.
Moreover, the speaker discusses the impact of debt servicing on productivity, highlighting that more resources are directed towards paying off debts rather than investments that drive growth. He emphasizes the importance of providing tools (money) for economic growth and compares the current situation to the conditions that led to the Great Depression.
The speaker then transitions to discussing the potential role of cryptocurrency in addressing this economic stagnation. He believes that as people accumulate wealth in the crypto realm, there will be opportunities to fund ventures through decentralized platforms and tokenization. This process can empower innovators who are overlooked by traditional banks and support the growth of small businesses, ultimately leading to significant economic breakthroughs.
In conclusion, the speaker advocates for the transformative power of cryptocurrency in filling the gap left by traditional banking systems and stimulating economic growth. He expresses optimism about the potential of cryptocurrency to create a more inclusive system that fosters innovation and entrepreneurship on a scale not seen in recent years.