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RE: What does the Celsius Network, 1600’s Goldsmiths and Bear Markets have in common?
Hi @fijimermaid, thank you very much for the mention. So, sometimes I think it's good to ask questions sometimes, as usually asking questions usually leads to interesting answers.
As well as this publication that apart from historical to served to make a contrast with the current reality.
And 400 years later, in essence, it is the same financial game of those who are "supposed to take care of our money".
Thank you for the idea.
I think my biggest problem with fractional reserve banking…is debt cycles. It allows people and institutions to incur more debt than they can handle when the economy finally turns bad. And the only way to get out of it is to print more money.
Crypto is no exception. Crypto does the same thing that the regular banking system does. Except crypto is a bit more transparent and decentralized…and it cuts out a lot of the intermediaries.