This reasoning shows naivety for the Fed can create elastic money and buy assets, but those assets ultimately mature and expire. To the ancient Chinese, cowrie shells were money. The real solution is again, how do we get to a point where you dont have to have a direct link between your identity all of the time? Gold became prized because it was seen as the tears of the sun. The rise of cryptocurrency is a reflection that people do not trust the government. Death insurance and they will hang the phone. Related: More crypto news, daily: iota storms the market / China says Bitcoin will Die. Firstly, thank you Ive learned more from your blog and models that high-school would ever have hoped to teach. Martin says that no doubt we are headed towards a new monetary system.
Or has it been a passing fad? MT answer: Bitcoin rose because 70 of the miners were in China. It was NOT simply because.
Cryptocurrency; Cryptocurrency the Race for Money. Posted Jan 13, 2017. Posted Feb 17, 2016. Martin Armstrong, question:. Armstrong : Since you have deep knowledge about coins and currencies going back to ancient times, it would be really helpful to get your view of what.
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The interesting question that arises from this is very blunt. Could you also recommend some reading in this area? That changed in the 1970s, so note there is no difference between borrowing or printing except borrowing creates more money because we have to pay the interest. Thanks again for your patience and skill in translating your work into digestible English so people like myself can benefit from your knowledge. Seigniorage (also spelled seignorage ) which comes from the old French seigneuriage meaning the right of the lord (seigneur) to mint money. Beads to us seem like a scam, but to the American natives this was money. Until it was widely discovered, only royalty could possess gold. That is when we will have a chance to reshape the world. The answer to that is more likely than not a resounding. But what happens if the people just ignore the govt(s) attempt to ban crypto? They will not allow cryptocurrency to defeat taxes and BitCoin is not secure enough in that manner.
Is it likely, or even remotely possible that most govts would work jointly and simultaneously to ban cryptocurrencies? And even after a year, I am a still at the start-line of knowledge. They attribute all our problems to central banks and totally ignore the fact that Congress creates the money with new debt that reverts to money, which simply pays interest as it did in the 1860s to convince people to accept. A cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.
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