Bitcoin to Halve Amid Mass Devaluation and SWAT Teams Arresting American Protesters – Trustnodes

Bitcoin to Halve Amid Mass Devaluation and SWAT Teams Arresting American Protesters

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Bitcoin is to halve in just five days after years of many wondering what world it would find in 2020, none of whom thought it would be this sort of dystopia.

The more than $5 trillion balance sheet of the European Central Bank now amounts to 45.3% of Eurozone’s GDP, the highest ever concentration of ownership and power for the banks.

Fed’s balance sheet is at 30.9% of America’s GDP, while sclerotic Japan has its central bank own 111.4% of Japan’s general domestic production.

This has led to a situation where stocks have detached from reality based on the forecast of corporate earnings by Bank of America.

Meaning in effect the rich are being subsidized by the rest, instead of the opposite as those who gain most from the system should be the ones to put back the most into the system.

The latter is called a democratic system under capitalism where all are free to reap the rewards by their own efforts, instead of by the efforts of the state.

That system however has not been reality since 2008 when governments took from the people and gave that value to banks which now own between 30% to 100% of General Domestic Production.

This ultimately translates into power, with the French uprising last year for example demanding that the rich are treated like all the rest under the law – instead of having exceptions from taxation to investment opportunities – now ending up with this tyranny where in the land of the free swat teams are sent against fully peaceful protesters.

The Sheriff said he was just following orders. He would like things to open up, like this bar in Texas, but it’s governor’s orders so he told Americans to just vote out the governor if they don’t like it.

Elections are in a few months however, with it unclear whether US has a system where you can recall elected officials if a certain number of citizens signs a recall petition.

One such elected official of course being the Sheriff who for non-Americans is a bit surprising that they’re actually real, with their responsibilities varying across America but generally they are in charge of civil enforcement and in many cases they’re in charge of criminal enforcement.

In this case the Sheriff is an elected official in charge of the police department and the swat team, with it being his decision ultimately to send them against the peaceful protesters in an event that thankfully went without an incident but could have gone many different ways in this highly charged situation where Americans fly banners that say tyrants get the rope.

So giving us a situation where banks get more and more powerful and the government gets more and more authoritarian with both impoverishing the rest – banks by not passing on 0% interest rates while the government by closing down most businesses – and thus so making everyone reliant on government handouts and/or bank loans.

The question is of course what bitcoin might do in this sort of situation and the answer is two fold.

It can deprive banks at least from some money printing power by cancelling that monetary devaluation where bitcoin unit of accounts are concerned, and it can deprive the government from the power to simply raid citizen’s bank accounts.

That is possible because bitcoin is outside the banking system which ultimately the government controls as we all have seen with those financial sanctions, and thus it is outside the government system too in a practical sense because the British parliament for example can of course vote to ban vaping in France but that would have no real effect.

Meaning while stocks may be overvalued, bitcoin may be undervalued in the current circumstances where a substitute to manipulated and abused fiat money is clearly necessary, but was not very practical until this blockchain monetary system.

A monetary system that allows the people to take at least some of the power back in a way that requires no permission from any corrupted official with the bitcoin algorithm itself to be the chief and so to order the inflation rate is to fall to 1.8% a year in five days now more than a decade since bitcoin was invented whereof 87% of this new money has been produced so far.

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