I disagree, I think the sudden disappearance of credit and cash flows due to the pandemic would plunge the world in a much more painful crisis if it was not by the central banks injecting liquidity into the system.
Post by twetch#2584
Here's the endgame: USD loses so much buying power, due to money printing, that Fed can't buy debt or bail anyone out. Businesses can't transact in USD so neither can the Fed . Check and Mate ..depression happens whether anyone likes it or not.
What the chain says
- Block
- 635 515
- Time
- 2020-05-19T00:15:13Z
- Signer
- 17mNxa3wLR3UpkxzBHkTQ1ynn6boQ3zGjY
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#2584
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
17mNxa3wLR3UpkxzBHkTQ1ynn6boQ3zGjY VerifiedReplies (2)
This will happen if the inflationary measures outpace by a high degree the deflationary pressure of the credit and cash flows shrinkage.
But if the USD dies, it will be replaced, just like that. Cash is not a long term investment but it holds for daily use
Q: Why don't third world countries just reset their currencies successfully?
A: Because they lose all credibility in the world. No one wants to help them reset their currency because they are irresponsible and stupid.