The Fed Digital Currency Cannot Be Far Away

in #crypto2 months ago

Screen Shot 2021-03-02 at 8.49.09 PM.png

Source

They challenge that was 2020 was wide and deep across many markets and industries. However, money supply was clearly the hero as Central Banks around the world deployed unprecedented amounts of capital across many markets to avoid a financial collapse. Fiscal stimulus followed to avert an extended contraction where economies saw double digit unemployment for months. However, the unintended consequences have yet to be seen from these movements.

While many are focused on the potential inflationary impacts, the debt bubble created by these acts of stimulus are more concerning. Both have the potential to critical debase any currency currently circulating. I am not surprised that we continue to hear about many Central Banks researching or looking at the potential of Digital Currencies to complement the current fiat system. However, it seems that it is without finding a solution to the decades old concern of what backs them other that the "full faith and credit" of the issuing government.

Discord: @newageinv#3174

Chat with me on Telegram: @NewAgeInv

Follow me on Twitter: @NAICrypto

The following are Affiliate or Referral links to communities that I am a part of and use often. Signing up through them would reward me for my effort in attracting users to them:

If you are like me and interested in continued personal growth, invest in yourself and lets help each other out by leveraging the resources Minnowbooster provides by using my referral link

Start your collection of Splinterlands today at my referral link

Expand your blogging and engagement and earn in more cryptocurrencies with Publish0x! Sign up here!

The best new browser to protect your privacy while still being faster and safer. Try the Brave Browser today with my affiliate link here: https://brave.com/wdi876

Try the Partiko Mobile app to engage while on the go with my referral link

Get started on the latest game on the blockchain Drug Wars by signing up here!

If you select one of my above referral links, I will sponsor a @steembasicincome SBI in return. Let me know if you do so in the comments below!

DISCLAIMER: The information discussed here is intended to enable the community to know my opinions and discuss them. It is not intended as and does not constitute investment advice or legal or tax advice or an offer to sell any asset to any person or a solicitation of any person of any offer to purchase any asset. The information here should not be construed as any endorsement, recommendation or sponsorship of any company or asset by me. There are inherent risks in relying on, using or retrieving any information found here, and I urge you to make sure you understand these risks before relying on, using or retrieving any information here. You should evaluate the information made available here, and you should seek the advice of professionals, as appropriate, to evaluate any opinion, advice, product, service or other information; I do not guarantee the suitability or potential value of any particular investment or information source. I may invest or otherwise hold an interest in these assets that may be discussed here.

Sort:  

Good post, and very valid concerns. Inflation and debt are HUGE issues in the current system. Putting fiat on a blockchain won't make those issues vanish!

I expect to see a LOT of "stimulus" this year, in various forms. That's only going to make things even worse.