RE: World is Sleepwalking Towards Currency Collapse ~ Alasdair Macleod … (Death of the Dollar–21) with Link to Full Story
Dear @majes.tytyty
It's very hard not to agree with those dark economic predictions. Results of coronavirus will be painful for very many people around the world. Some people see it as a Black Swan. I rather see it as a straw that broke camels back.
today’s money is not backed by gold. That means that today, central banks can simply continue to inflate asset prices, creating an even bigger bubble.
Would that mean, that banks should never come to situation where they do not have any money left? I wonder how come many banks in China closed down withdrawals, since money can be printed from the "thin air".
ps. I think you should check how does your post look like in 'night mode'. It does look quite awful to tell you the truth ;)
Upvoted already. Have a great monday,
Yours, Piotr
Banks will eventually come to a point where they've printed so much fake fiat money that (as you say) "the straw will break the camel's back."
The thing is, fiat money is based on simple faith. As the banks print more and more money, it's value decreases. At first, people don't realize that the value is decreasing, so they continue to have faith in it. But eventually, they will lose all faith. That's when the "camel's back" will break.
(As for the night mode, you've informed me before, and I know it doesn't look great. But it's impossible to have it look great in both night mode and normal mode.)
Hi @majes.tytyty
Yes and no. Most FIAT money generally seem to be backed up by debt. Household debt, corporation debt, students debts, morgages etc.
This is debt that need to be paid back. So most of that FIAT = liability = our earning power in the future. For that reason money have value to us.
However QE and pumping cheap money into REPO market -> that's hell of a different story. Hope I'm making sense?
Correct me if I'm wrong.
It is possible and I could help you with that. You just need to use .png files instead of .jpg. And white background need to be "transparent".
If you would send me all those graphics to my email, then I can do that for you and send you back .png files.
Yours
Piotr
I see your point about "debt that needs to be paid back." But that's now becoming part of the problem. The US debt is now over $23 trillion. That's such an insane amount that it can NEVER be paid back. Never never ever.
...
Re the .png files, are you saying that the white background will automatically become transparent? I might do some research and see if I can do that myself.
As for the parts that look "AWFUL," is it only the lines that I use to separate the different sections. I have only 2 separate lines, one line which features dollar signs, and one line that is just plain. I'll see what I can do on my end. But thanks for the offer of help. I might need you later. :-)
Hi there
I only realized a moment ago that I never thanked you for this awesome comment.
Big thx for being always so responsive.
Have a great tuesday buddy,
Yours, Piotr
I just finished revamping the bottom portion of my MUSIC posts, so that they look decent in Night Mode, too.
Check out this post, particularly after you scroll down to the bottom portion. I trust you'll like how it looks. Again, thanks for the push.
https://steemit.com/music/@majes.tytyty/all-along-the-watchtower-covered-by-bryan-ferry-rock-music-to-your-ears-covers-61