Fiat Money Is Doomed. The Urge For an Alternative Currency System is High

in #ico7 years ago

1.png
Jim Reid, the Deutsche Bank lead strategist, released a research paper, presenting the results of his meticulous study of traditional money and what the future might be holding for it. It’s not often that we hear statements diminishing cash money that comes from key bank personnel. Reid speculates that we may soon experience the “start of the end of fiat money”. His statement has shaken the millions and erupted a heated debate, adding more fuel to the fire between the physical cash patrons and the opposing power of cryptocurrency supporters.

“Central banks and governments which have ‘dined out’ on the 35 year secular, structural decline in inflation are not able to prevent it rising as raising interest rates to suitable levels would risk serious economic contraction given the huge debt burden economies face. As such they are forced to prioritise low interest rates and nominal growth over inflation control which could herald in the beginning of the end of the global fiat currency system that begun with the abandonment of Bretton Woods back in 1971.”

In other words, Reid expresses his criticism towards the centralized nature of fiat currencies and central banks, governments and related authorities in power to conduct manipulative activities with paper money, as well as inflation rates. The fiat money — the currency that is issued by the government and is not backed by the gold or silver reserve — will be “seriously tested” in the coming years.

“It’s possible that inflation becomes more and more uncontrollable and the era of fiat currencies looks vulnerable as people lose faith in paper money,” added Reid.

Despite the skepticism and pessimism poured by a number of financial analysts over cryptocurrencies and the blockchain technology itself and its mainstream adoption for everyday transactions, the reality dictates its rules and the opposite is more than just a speculation or a “conspiracy”.

Cryptocurrencies like Bitcoin have an undeniable advantage over traditional currencies. Not only are cryptocoins voluntary, but they also do not brutally enforce regulations and policies. What is more, individuals and businesses are not obliged to use the digital currency for leverage. Thus, the cryptocurrency truly is a democratic and safe asset that will only gain more power and recognition with time.

We praise and dedicate a lot of time talking about Bitcoin, and if you’re looking for an affordable alternative coin to invest in, take a moment to look at TradeToken (TIO) and trade.io, a pioneering P2P trading platform.
To Visit click - http://bit.ly/2iTdnBK or https://trade.io/

Sort:  

Hello! Welcome to Steemit.

In order to prevent identity theft, identity deception of all types, and content theft we like to encourage users that have an online identity, post for a website or blog, are creators of art and celebrities of all notoriety to verify themselves. Verified users tend to receive a better reception from the community.

Any reasonable verification method is accepted. Examples include:

  • A post or tweet on an established facebook, twitter, Instagram or other social media account with a link to your contribution on Steemit.
  • A reference to their Steemit account on their website or blog.

Thank you!

Hello & Cheers!! I'm a content detection and information bot. You are receiving this reply because a short link or links have been detected in your post/comment. The purpose of this message is to inform your readers and yourself about the use of and dangers of short links.

To the readers of the post: Short links are provided by url shortening services. The short links they provide can be useful in some cases. Generally their use is benign. But as with all useful tools there are dangers. Short links can be used to hide all sorts of things. Quite frequently they are used to hide referral links for instance. While not dangerous this can be deceptive. They can also be used to hide dangerous links such as links to phishing sites, sites loaded with malware, scam sites, etc. You should always be extremely cautious before clicking on one. If you don't know and trust the poster don't click. Even if you do you should still be cautious and wary of any site you are sent to. It's always better to visit the site directly and not through a short link.

To the author of the post: While short links may be useful on some sites they are not needed on steemit. You can use markdown to format your links such as this link to steemit. It's as simple as [steemit](https://steemit.com) Unlike short links this allows the reader to see where they are going by simply hovering over the link before they click on it.

This message was created by a bot. It is part of the ongoing fight against spam and phishing attacks on steemit. If you did not use short links in your post and feel you have received this message in error you can contact @fubar-bdhr on discord or @fubar.bdhr on steemit chat to report the issue.