Their reversal only proves the perilous state
of global monetary systems and shows the protection owning gold bullion can provide.
This leads to a frightening conclusion: that both lower quality and lower yields of such «previously sacrosanct debt represent a potential breaking point in our now 40 - year -
old global monetary system.»
Meantime, as the IMF continues its call for an overhaul of
the global monetary system, Strauss - Kahn remains defiantly ambiguous about his plans for the future.
Mauldin is no extremist; he doesn't expect
the global monetary system to collapse.
We will find new banking partners and continue to work towards the Bitcoin vision: transforming
the global monetary system and empowering consumers with financial independence.
«The developing credit cancer may be metastasized, and
the global monetary system fatally flawed by increasingly risky and unacceptably low yields, produced by the debt crisis and policy responses to it.
Gross adds that
the global monetary system, which has evolved and morphed over the past century but always in the direction of easier, cheaper and more abundant credit, may have reached a point at which it can no longer operate efficiently and equitably to promote economic growth and the fair distribution of its benefits.
One would think that Mr. Bernanke knows nothing at all about the balance of payments or how
the global monetary system works.
2017 was the year of cryptocurrencies as interest in
the global monetary system started to move from fiat currencies to crypto.
What we saw was
a global monetary system that was adding significantly more stimulus to prevent deflation.
«Bitcoin, the digital currency heralded as a potential successor to
the global monetary system, is up about 37 percent against the U.S. dollar since the beginning of the year.»
During World War II, the world's industrial nations agreed to
a global monetary system that they hoped would bring greater economic stability and peace by promoting global trade.
Over the next two years, there was an attempt to salvage
the global monetary system through the short - lived Smithsonian Agreement, but the new arrangement fared no better than Bretton Woods and it quickly broke down.
We will find new banking partners and continue to work towards the Bitcoin vision: transforming
the global monetary system and empowering consumers with financial independence.
For many decades, governments have had absolute control over
the global monetary system, especially of the fiat currency system with which they can easily manipulate the supply of circulating money.
The visualization showed that the fiat currency system of the US, which operates as one of the few reserve currencies that support
the global monetary system, has been on a decline.
Bitcoin eliminates power from the authorities to manipulate
the global monetary system and the fiat currency system through inflationary policies.
Should
the global monetary system ever collapse and hyperbitcoinization occur at scale, there will be more than enough bitcoins to go around.
He further noted that cryptocurrencies like bitcoin, despite the growing interest from the traditional financial industry in blockchain technology, have the potential to take over fiat currencies and operate as
the global monetary system, given their open structure and decentralized systems.