While Bitcoin is inflaming debates on many topics, the current economic crisis is pushing it to the center of the international stage. Most of the time in the form of a problem to which it has become imperative to find a solution. With the main response, a ban whose form and reasons matter little as long as the result remains its disappearance. To the point of wanting to force it to modify the operating model of its blockchain. Or turn anyone who touches it into criminals. But isn’t the real problem elsewhere?
Two camps now clash in the area of the money market. With on the one hand the followers of unlimited and centralized distribution, in the form of geographically imposed fiduciary currencies. And, since the creation of Bitcoin, a decentralized and autonomous model that has no more borders than an appointed leader. But also a limited quantity which has nothing to do with a simple technical detail. Especially given the current situation…
A significance that could almost measure up to the wave of panic that the adoption of cryptocurrencies triggers in the ranks of governments and regulatory bodies. To the point of wondering if all the reasons given are serious and real. Or simple attempts to block their way. This by using and abusing everything that can help sell this repressive soup. With the latest aberration, the IMF, whose “aid” is associated with a ban on cryptocurrencies in the territory concerned.
IMF – “We have printed too much money”
And while all the idiots stare at the finger pointing to Bitcoin, the world is sinking into an unprecedented economic crisis. With inflation exploding like it hasn’t seen in over 50 years. And, over the past year, one of the biggest dollar-printing campaigns our modern society has ever seen. This is to “buy back debt” by injecting billions of Monopoly notes into the banking system. Because the objective is to try, whatever the cost, to keep an economy afloat that is already in the process of sinking.
But while the damage is done, the director of the IMF returns to the current situation. This in a recent interview given to the Reuters site. An intervention during which she draws a very critical assessment of the policy pursued by the American Federal Reserve (Res). And the “need to recognize” that “too much money has been put into circulation” for this to be viable. With the result, consequences presented as “unexpected. »
” I believe that we have not sufficiently considered the possibility of unintended consequences. We made decisions with a goal in mind, without really thinking about what could happen that didn’t fall within that goal. And now we are fighting against their impact.”
Kristalina Georgieva, President of the IMF
It is difficult – or frightening – to imagine that such consequences could have been ignored by the world’s specialists in the monetary question. But Kristalina Georgieva then explains that our society tends to behave like “8-year-old kids playing football chasing the ball. » And this without ever seeing what is happening on the rest of the field. A metaphor used to explain the climate crisis, for which it is “already too late. But that obviously applies to any other field. With this way of always seeing the damage a posterioriwithout ever feeling concerned by their triggering.