End to currency
The US stock market as at an all time high.
The current value is about $30 Trillion
The fed has infused trillions into the economy in the form of bad loan buy backs from banks.
US banks currently sit with $16T on their balance sheets.
We have not even begun to see the effects of all the cash that has been introduced into the economy.
In addition the ECB and the BOJ have also added trillions of dollars into the system.
I believe markets will continue to roar as more newly found money piles in.
And while this is a financial experiment that has never been attempted by a federal bank, there is an outside force that was surely not calculated in the effects of the QE programs: cryptocurrencies.
They currently sit at less than a $T market cap.
They will eventually begin to take market share and continue to grow.
Especially once companies fail to show that their high valuation is justified based on their future earnings.
Some believe this is what cryptocurrency is meant to do. Put an end to fiat exchanging all of the world's wealth onto a digital blockchain.
But will this really work?
As people begin to wake up to the markets values losing market share to cryptos, there will be a stock market crash, leading to a world wide bubble in cryptocurrency like we have never seen before.
When the bubble explodes wealth will have been distributed around the world in a new way.
The ones that go out early are rich, regardless of their contribution/productivity to society that should determine one's wealth. The wealthy that did not get out have now lost their wealth.
Will the world continue to recognize wealth solely on the amount of digital assets held?
What happens when banks begin to fail before cryptos are accepted by the masses?
What good would being a digital millionaire be when your grocery store will not accept cryptos?
Can cryptos act like a black hole sucking all the wealth out of the market to the point that cryptos will not be able to be converted to fiat anywhere.
If the fiat money system fails and somehow cryptos come to an end, we are back in the stone ages with a lot of fancy tech.
Land owners will be lords again.
The fears you outlined are unnecessarily anxiety-inducing in my view. In order to feel at ease all you need to do is look to Venezuela. The market situation you describe is happening there right now. Their market is being ravaged by internal (and external U.S.) policies. Their hand has been forced, and Venezuelans are adopting cryptocurrency at a high rate.
The same thing will happen here in the long-term. Fiat will ultimately crash and instead of laying down and dying, the market will seek shelter in crypto. I don't see any circumstances where businesses will lay down and die in order to refuse taking crypto in the land of the "free."
Of course there is one fatal situation where this could happen, but if we can stave off global cataclysm and martial law long enough, I don't think we need to worry.
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