The end of financial system is coming...

in #finance9 months ago

The end of modern financial system started a long time ago when currencies were detached from gold. This allowed central banks to print almost unlimited amount of money.

Eventually there was so much money printed that interest rates paid by savings banks started dropping and eventually reached 0% for non-owner accounts. This means keeping money stored in bank accounts was not viable anymore...

As some countries gradually stopped using cash and switched over to debit and credit cards, people started storing money in stocks, funds and cryptocurrencies. This essentially means all the money issued by central banks is in hold of large companies, including stock exchanges, fund management companies and cryptocurrency exchanges. Result of this is that central banks have little chance get the surplus money back for destroying as the big companies have enough influence to block such attempts.

The next stage will cause value of stocks, funds and cryptocurrencies to climb up exponentially as people move more and more money out of reach of central banks. When value of aforementioned assents reach critical point, where combined value is more than total amount of money central banks can print, people start panic selling of all the assets and the collapse of financial system is imminent.