Economist predicts demise of global central banks

[Lorence.xD]

Even if an eventual death of central banks will arrive don't you think there will be other mammoths that will replace them? With all this ever-present technology, particularly in the payments & money realm, when it will be decided the demise of the old central banking some maybe more sinister entity will take its place.
It is a nice interview but I believe the game is already set (because it was rigged already).

Well, if the people were the cause of the death of central banks, I think that whoever or whatever replaces them will be easily deposed by the people, they are not like their predecessors that are deep rooted which means that they can easily be uprooted as they are still a young offshoot. The only way that the death of central bank will be unsavory for the many is when the private companies take over.

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[Smartprofit]

In my opinion, it is clear that negative deposit rates are crazy.  The enormous external debt of the United States that cannot be paid is insane.  Also insane is the growth of shares of large companies against the background of the deterioration of their financial and economic indicators.  

The modern financial system is undergoing a transformation (reboot).  

However, the Central Banks of the states will not be affected.  Commercial banks will be sacrificed.  

The largest Russian bank, SberBank, has removed the word "bank" from its name.  It is transforming into the largest IT company in Russia.  The former Sberbank will use big data technologies and artificial intelligence to manage many sectors of the Russian economy.  

https://tadviser.com/index.php/Article:Big_Data_in_Sberbank

The rest of the commercial banks must follow Sberbank's example or die.

[mindrust]

"You will own nothing and you will be happy."

This is what they are planning for your future.

But somebody out there will own something. Why not that person is me but them? Fuck that.

This is against the human nature. Nobody is going to be happy in a world like that. The good news is they are going to get what is coming for them.

We go full Slavery in 2030. Think well about your options to prevent this from happening.

[beerlover]

"You will own nothing and you will be happy."

This is what they are planning for your future.

But somebody out there will own something. Why not that person is me but them? Fuck that.

This is against the human nature. Nobody is going to be happy in a world like that. The good news is they are going to get what is coming for them.

We go full Slavery in 2030. Think well about your options to prevent this from happening.

I do not think that we will go "full slavery" because we are already sort of in that slavery situation as we are right now. Sure I understand that slavery is a very serious thing and we are way beyond that now compared to what people had back in the day, we are talking about killing your slave if you want to and have no problems at all from law, or you could buy and sell slaves if you want to, whip them beat them or even if you go back 2000 years ago (maybe sooner too) you could make them fight to each other to the death and have fun with it.

I know that we are not in that situation anymore, we are much much much better than that right now, but could you say that there is zero slavery right now in the world? How about all the people who needs to work in order to not starve to death? They are forced to work for a boss in order to stay alive, how about sweatshops that take advantage of these people and only give them food and that's it? And in return get 16 hours of work from them? Slavery is very much alive, just changed its shape.

[CarnagexD]

This is immiment and is getting ever closer by the day. Spearheaded by conflicts from different countries, loans taken by different countries that weren't expected to be paid in any way whatsoever, in time the Global Central Banks wouldn't be able to hold this as they continue to bleed money, and would then be the cause of their downfall. Now there are only two situations we are looking at, we either get crapped instantly, or instantly and for a long-ass time. And that would depend if countries would have a reserve.

[aesma]

"You will own nothing and you will be happy."

This is what they are planning for your future.

But somebody out there will own something. Why not that person is me but them? Fuck that.

This is against the human nature. Nobody is going to be happy in a world like that. The good news is they are going to get what is coming for them.

We go full Slavery in 2030. Think well about your options to prevent this from happening.

2030 is unrealistic however owning nothing and being happy could also be communism.

It could also be "robotism", as in robots do all the work, humans enjoy themselves all day and don't need to own anything, their needs are covered.

[mindrust]

2030 is unrealistic however owning nothing and being happy could also be communism.

It could also be "robotism", as in robots do all the work, humans enjoy themselves all day and don't need to own anything, their needs are covered.

"If you're not paying for It, You are the product"

Somebody out there will own something. It is just not going to be you.

Does that sound right to you?

Not to me.

It is basic human need wanting to own something.

2030 is unrealistic just like 2050 or 2025 is. This shit is not going to happen. I won't let it happen.

[aesma]

I could see it becoming reality in some small, homogenous country, like Iceland. Or on an orbital/planetary colony, when that becomes a possibility. Not everyone is as obsessed as the average American with consumerism, keeping up with the Joneses, etc.

[Darker45]

"You will own nothing and you will be happy."

This is what they are planning for your future.

But somebody out there will own something. Why not that person is me but them? Fuck that.

This is against the human nature. Nobody is going to be happy in a world like that. The good news is they are going to get what is coming for them.

We go full Slavery in 2030. Think well about your options to prevent this from happening.

2030 is unrealistic however owning nothing and being happy could also be communism.

It could also be "robotism", as in robots do all the work, humans enjoy themselves all day and don't need to own anything, their needs are covered.

Owning nothing, being broke, sad, depressed, constrained, and so on is what communism is all about. But that is only applicable to ordinary citizens. The leaders are the very people who counter the precepts of communism itself. The worst violators in a communist state are the leaders themselves. They are the very antithesis of the most fundamental tenets of communism. At least, this is the communism that the real world shows us.

Well, owning nothing but being happy is the kind of life of certain individuals such as the wandering ascetic monks in the East, the hermits, and so on, although, unfortunately, the prevailing mentality and, therefore, way of life of many in the world is of the western kind.

[jaysabi]

Harry Dent, economist and author of ‘Zero Hour,’ joined Glenn Beck on radio recently for a terrifying discussion about what may come soon for our financial markets. He says because the federal reserve and central banks are pumping money into our financial ‘bubble’ at record speeds, there will come a time soon that the bubble naturally will pop. Dent says, despite what the masses may believe, that fueling the markets with additional, printed money will NOT save us from an economic crash — in fact, quite the opposite will occur.

https://www.youtube.com/watch?v=JxUGlVKXI_M

....



This interview resembles what we should expect from a legitimate analysis of current finance and economy situations. Except for it containing a few more talking points and contrived narratives than normal for it to be a work of independent commentary.

I think the information laid out here about bubbles is ok. They try to spin the negative outcome of bubbles popping into a positive event by claiming it would destroy central banks. Which is ridiculous. Ruling elites would never allow the control and influence central banks give them to be tampered with.

Well worth watching but be aware that for every truth spoken, there could easily be 2 lies intended to serve political agendas.

The only thing that's been predicted to die more than bitcoin is the USD. If you can't see the irony in bitcoin people reveling in all the failed predictions of the death of bitcoin but also endlessly predicting the death of the dollar, that's funny to me.

[ivankoh]

As there will come a time when fiat money will become imbalanced and the biggest consequences it will have globally will not include any benefits for the people. Where the central banks will fall and go cheap. Also where the bitcoin, cryptocurrency will take its place. It didn't come as early as another nine-year cycle, but during this crisis I trusted his prediction as a dose of doping so that I kept going straight to a single goal of investing and mastering. Your crypto asset block.

[oHnK]

"If you're not paying for It, You are the product"

Somebody out there will own something. It is just not going to be you.

I've heard these words in one of the documentary films.  I agree that in the future whatever happens looks normal, even today I feel it.  I have nothing but I feel fine.  I felt trapped in an economy that kept making the rich richer and the poor feeling just fine.  Even if the central bank did die, it would be the poor who would be hardest hit.  The world gets more and more chaotic every day until everything seems normal.

[salty]

Harry Dent, economist and author of ‘Zero Hour,’ joined Glenn Beck on radio recently for a terrifying discussion about what may come soon for our financial markets. He says because the federal reserve and central banks are pumping money into our financial ‘bubble’ at record speeds, there will come a time soon that the bubble naturally will pop. Dent says, despite what the masses may believe, that fueling the markets with additional, printed money will NOT save us from an economic crash — in fact, quite the opposite will occur.

https://www.youtube.com/watch?v=JxUGlVKXI_M

....



This interview resembles what we should expect from a legitimate analysis of current finance and economy situations. Except for it containing a few more talking points and contrived narratives than normal for it to be a work of independent commentary.

I think the information laid out here about bubbles is ok. They try to spin the negative outcome of bubbles popping into a positive event by claiming it would destroy central banks. Which is ridiculous. Ruling elites would never allow the control and influence central banks give them to be tampered with.

Well worth watching but be aware that for every truth spoken, there could easily be 2 lies intended to serve political agendas.

It is for this reason that we still remain in the world of crypto and believe that first of all the code invented by Satoshi Nakamoto can become a powerful argument in the battle against the printing press. But there is another side to the coin. There are not many people who understand the potential of cryptocurrencies.

[aesma]

In the US dollar it's important to notice that price forecasts instead of cryptocurrencies should be seen as recommendations instead of call to action as we mentioned earlier, the crypto market is incredibly volatile so nobody will ever say the precise BTC price for subsequent few years. However BTC has been on the marketplace for quite a decade and a few experts can provide a comprehensive forecast of bitcoin supported currency price trends.

Yeah and considering the chaos it would create, would we really want to live in a world with a failed dollar ? Would Bitcoin really matter then ? It's not a given at all.

[platonb]

That is what is expected to happen, if they continue to pump without any direction to do so, the bubble will burst and disaster proportions of events will happen. The suits and the rich will not suffer in this collapse, I can guarantee that. They will only do a reset and everything will start all over again as if nothing happened, these bankers are not worried that this will happen because they know that they can survive this, this is the ripe time to go for cryptocurrency because it helps that you will have an insurance that when something happen then you are safe, the only downside is the prices will definitely go up.

The most important question is, how is the reset going to play out? Do they want to reset the Dollar only? Then what about the (yeah the good old whataboutism strikes back) countries that borrowed huge amounts of dollars? Like Greece, like Turkey? They'll be the winners of that scenario. And who will be the losers? Those who loaned them the money, the banks. The developed countries.
This smells like the next world war to me. Erasing more than half of the world's wealth and debt will have its consequences.
They were shitting bricks when a bunch of Trumpers gathered in the Capitol fearing that it would trigger a civil war and now they do this?
I bet it will play out peaceful af.
The global reset actually benefits me in the end because I live in one of those broke countries but thinking that it won't have any consequences is bat shit insane.

If this news is not a fake one than everything will happen as usually: poor people will become poorer and rich people will triple their wealth. But sure, economics of all countries will suffer drastically (not only Turkey and Greece). Such global reset will destroy everything.

[Hydrogen]

"You will own nothing and you will be happy."

This is what they are planning for your future.

Within a short span of time, we've seen old retailers like sears, JC penney and sam's club be rendered obsolete and put out of business by emerging retailers like walmart and amazon.

This illustrates fears of ruling elites. They're concerned someone new who is hungry, smart and determined will dethrone them. The way walmart and amazon dethroned sears and jc penney.

Their solution is to create a system where only the rich and powerful are allowed to own and control things. When they say "you'll own nothing and you'll be happy". This could describe a future system where the status quo of rich and poor is maintained. To guarantee new inventions and emerging technology which could threaten and depose those on the top of the hill, never happen.

A good example of this could be the inventor of the AK-47 who was not allowed to patent or claim credit for their invention. The USSR and state took credit and ownership of everything. That could be one possible future they envision for the rest of us.

[Ozero]

Even if an eventual death of central banks will arrive don't you think there will be other mammoths that will replace them? With all this ever-present technology, particularly in the payments & money realm, when it will be decided the demise of the old central banking some maybe more sinister entity will take its place.
It is a nice interview but I believe the game is already set (because it was rigged already).

Of course, the banking system can be replaced by something new, but the essence will not change. The states need a banking system and until nothing new has been invented, it will exist under the states and the states will invariably protect it. Therefore, in general, the banking system is not threatened. Periodic economic crises only lead to the recovery of the global economy.

[palle11]

In the US dollar it's important to notice that price forecasts instead of cryptocurrencies should be seen as recommendations instead of call to action as we mentioned earlier, the crypto market is incredibly volatile so nobody will ever say the precise BTC price for subsequent few years. However BTC has been on the marketplace for quite a decade and a few experts can provide a comprehensive forecast of bitcoin supported currency price trends.

Yeah and considering the chaos it would create, would we really want to live in a world with a failed dollar ? Would Bitcoin really matter then ? It's not a given at all.

A failed dollar in my view will become a collapse system if there isn't any fiat or crypto that can rise to the occasion as dollar world wide. Dollar failing means bitcoin value will collapse because many pairs are on btc which is usually measured in dollar. Except a coin like stable coins is discovered to fit into dollar but unfortunately, stable coins are still cryptocurrency and not fiat and can't play the traditional role of fiat.

[SquallLeonhart]

the banking system can be replaced by something new, but the essence will not change. The states need a banking system and until nothing new has been invented, it will exist under the states and the states will invariably protect it. Therefore, in general, the banking system is not threatened. Periodic economic crises only lead to the recovery of the global economy.

I believe we could build a "peoples bank" type of situation and that is exactly what we need that will change the world. This way what we can achieve is that there will be one decentralized bank type of situation that everyone holds their own money in their own accounts but it will be shown in numbers how big we are in numbers, so if there is billions of dollars there people would know how strong we are and how we can affect change.

In return if governments try to destroy the economy by making themselves richer and trying to get votes and ruin the economy, then we wouldn't be affected because we have our own bank and our own money in crypto showing the world that they could ruin it however they want, they will not make us poor again, we are going to grow in power and get richer and richer while central banks keep losing value and worth and become useless.

[bosede1]

I was trying to figure out the main reason why the Central bank of Nigeria Governor will just wake up in a day without any prior notice and ban Cryptocurrency affairs in the country, I don't know to what rate the prediction will right but I wish they can see the positivity related activity with bitcoin and not the other way round and give it a chance in the Country.