Economist predicts demise of global central banks

[Hydrogen]

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.

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[palle11]

Ruling elites would never allow the control and influence central banks give them to be tampered with.

This can be a very strong point to why the central banks are coming against cryptocurrency. Of course banks are either government business or private individuals who have influence in government and they see cryptocurrency as threat to their businesses. To the end of government, they make policies to chase cryptocurrency investment, to avoid people taking out their fiat for conversion. But they , the crypto attackers have no idea that cryptocurrency investment is unstoppable.

[Kittygalore]

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.

[mindrust]

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.

[acquafredda]

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).

[Ucy]

If by "naturally pop" he mean popping without intervention from qualified people to prevent the pop, or that the market is destined to pop due to human nature or due to things beyond our control, then I believe it's a possibility.

It's Important the market does not get popped intentionally (directly or indirectly).
I believe It can be prevented from popping as long as possible if really qualified people handle the markets. Unfortunately, lots of people seem to want a pop. I hope it doesn't result to worst kind of financial markets. A good financial market must be very transparent, decentralized, public, safe, based on good rules, etc

[oHnK]

Economists will continue to provide their predictions regarding current conditions, even since a few decades ago.  But the fact is, our economic system which is regulated by the central bank has not experienced its collapse in hundreds of years.  Sometimes I half believe what these economists say, they can casually change their masks that initially voiced economic collapse due to the continuing crisis and then behind the scenes they still support the policies made by the government.  I never fully believed.  Maybe because I'm not an ambitious person so my life is flat and thinks everything is fine.

[bassbity]

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.

well, it's not strange if the central bank is openly at war with cryptocurrency, we already know that the government will always be equal to the rulers who will bribe them with stacks of paper money. and they clearly regard crypto as financial that is not real. that's speculation that is often used as a scapegoat. so clearly the bank's worries about a change of position with technology money are getting crazy. we are witnessing day by day that the central bank is rapidly being eroded by the wave of cryptocurrency ..

[avikz]

Major benefit of cryptocurrency = no need of a middle man. Money can directly send from person A to person B.

Why we need banks = being the middle man of any transaction. Banks control the transaction and debit from person A and credit to person B while keeping the entire amount with themselves.

So no wonder why banking sector is pushing hard and lobbying against cryptocurrency globally. However, there are some banks with visionary leaders who understand that banking needs to adopt the change and started acting accordingly! What I foresee, is a revamped banking system to emerge!

[fiulpro]

I do think this was something that we all did know is going to happen but we had no idea when it will come. Just like the market situation in the US where the stock market is highly Volatile , the government keeps printing money and the people demanding for higher stimulus, with literally no jobs on the line and millions of people in US, A developed country alone loosing so much !! Loosing the jobs at such an incredible rate would mean that the whole situation would collapse and is indeed a big bubble waiting to burst.

Right now what is important is to have investments away from the central banks!! Things like bitcoins , Cryptos can be a good way to at least make sure that you can have some Financial stability but then again the market manipulation is something that is always there.
What is needed is :

Good investment policies
Governmental support !!
More job opportunities
Stabilizing their local currencies

This needs a change of plans , the government is blindly following anything literally.

[youdacapt]

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.

He has spoken reality of how economics work; and being in the crypto currency space for a few years; you should be aware that the bullish trend cannot continue forever; that is what he was making references about; the bearish market will definitely come, when or how soon is what nobody is aware of; which is why you must watch your trades and continue to take as much profits as you can.

[Silberman]

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.

This is the truth, those that have the money will use the media to switch the blame and instead of accepting responsibility for the crash they are causing they are going to blame something else, and I think we should prepare ourselves because I think bitcoin is going to be partially blamed of the economic crash that will happen, they will argue that since bitcoin is a currency that is not controlled by them that is what caused the crash, when we know that in reality people will simply be forced to adopt bitcoin because if they don't then all of their wealth will be reduced to nothing, but those people have never let the truth get in their way to get what they want, which in this case is complete control over the economy and the only way for them to get to that goal is to kill bitcoin.

[beerlover]

I believe that central banks will probably stay alive forever, they are the places that keeps nations afloat however I do think that the importance of them will fall, they will not be this powerful forever, I think they are going to lose their worth after a while. This means somehow fiat needs to lose its value and importance and that is definitely something crypto could be helpful about.

If the whole world turns into using crypto which is something that is doable but very difficult considering how we need to still fix our own shit first (transaction being slow and very expensive type of stuff) we are talking about a potential for us. Which means if we could turn into a hybrid crypto/fiat world that would drop the power of central banks for sure. They will never go away, they will not even be the underdogs versus crypto, but crypto could at least take a bigger market pie then what it has right now.

[Webetcoins]

This is no longer new to me as right from beginning, lots of economists are always predicting doom for our economy.
No matter what it is that is going to happen if their predictions should eventually come to place, one thing for sure is that we are going to be surviving through it for sure.

As for the government, they always claim to know what’s best ,so this is something they would have to worry about, because that’s the reason they were voted in their in the first place and they should be looking for ways to tackle problems, and if possible they should listen to the people.

[aesma]

As long as there is a government there will be a central bank. If something goes very wrong with a currency, a new currency can always be created by the central bank. Now if countries delve into chaos, maybe split in several chunks in the case of the US, then maybe each piece won't have a central bank, maybe some will go for crypto, but this is quite far fetched.

[TimeTeller]

Major benefit of cryptocurrency = no need of a middle man. Money can directly send from person A to person B.

Why we need banks = being the middle man of any transaction. Banks control the transaction and debit from person A and credit to person B while keeping the entire amount with themselves.

So no wonder why banking sector is pushing hard and lobbying against cryptocurrency globally. However, there are some banks with visionary leaders who understand that banking needs to adopt the change and started acting accordingly! What I foresee, is a revamped banking system to emerge!

And that will take time, going out from their traditional practices.
But I believe, they are also looking into that aspect, because if they will not revamp or innovate, people will look for better options.
Just like when people from overseas realized that sending their money via crypto will incur them small fees rather than using banks or traditional remittance companies.
But right now, many people are still relying on banking services, so they are still not in a hurry to alter their traditional ways.
But when the time comes, when a lot of people are realizing the benefit of crypto and not using banks for their financial needs, that's when we will see these banks to be aggressive in offering their new services.

[Darker45]

I'm not sure if I will agree with the complete demise of central banks. There might be a sort of a huge restructure, a total reset if you may, but I doubt a central financial body will be gone completely.

The relevance of central banks is gradually lost in the face of what are seemingly ridiculous decisions pertaining to the creation of money out of nothing at all. This will eventually lead to the creation of a currency which is above and beyond the whims and control of a few individuals up there who are far from being perfect and corruptible. Perhaps we could eventually see a hard-coded currency which is tamper-proof, something which the people could trust and rely on as a completely independent currency not susceptible to abuses.

However, financial and banking regulations and other monetary policies will still exist. They need to exist to a certain extent. It is in line with this that I think a sort of a central bank will still continue to serve a purpose.

[zanezane]

I believe that central banks will probably stay alive forever, they are the places that keeps nations afloat however I do think that the importance of them will fall, they will not be this powerful forever, I think they are going to lose their worth after a while. This means somehow fiat needs to lose its value and importance and that is definitely something crypto could be helpful about.

If the whole world turns into using crypto which is something that is doable but very difficult considering how we need to still fix our own shit first (transaction being slow and very expensive type of stuff) we are talking about a potential for us. Which means if we could turn into a hybrid crypto/fiat world that would drop the power of central banks for sure. They will never go away, they will not even be the underdogs versus crypto, but crypto could at least take a bigger market pie then what it has right now.

They will stay forever if we were to let them have their way, and the only way that they can survive is with governments backing them up. Yes, they can stay forever but if we let them there and not make any changes, things will only goes for the worse, we need a change of leadership in the government to tame this central banks into submission, someone that are not scared that friends will be foes the next day, someone that is not swayed with money and being lobbied, someone that supports the people more than the interest of the few. It will be difficult but once we see that kind of leadership, a collapse is not needed because the playing field will be leveled for everyone, even the rich few.

[amishmanish]

However, financial and banking regulations and other monetary policies will still exist. They need to exist to a certain extent. It is in line with this that I think a sort of a central bank will still continue to serve a purpose.

Very true. Regulations in some form will always be needed because greed knows no end. Central banks that only regulate and are not filled with retired employees of wall-street banks are something that the world needs. In fact, the coziness of central bankers with their private counterparts is mostly an American invention.

All this talk about the great reset is hyperbole and are supported by the humungous figures. It is wholly possible that a lot of that money will eventually find its way into all parts of the world economy that actually need it, in the form of foreign investments into developing countries. The wealth disparity of the US has nothing to do with the dollar being the reserve currency. For this disparity to end, the people in the world's largest economy will have to wake up and do something. The WSB incident was one such point but unfortunately it was quickly painted the other way by most of the media.

[mindrust]

I'm not sure if I will agree with the complete demise of central banks. There might be a sort of a huge restructure, a total reset if you may, but I doubt a central financial body will be gone completely.

Imagine removing the central banks completely and doing everything on the bitcoin&eth blockchain... It would be even more chaotic than what is it today. Actually whatever shitshow we are having now would look "normal"