2minutebitcoin on Nostr: The global financial crisis was principally caused by the fact that the financial ...
The global financial crisis was principally caused by the fact that the financial system was leveraged approximately 150-to-1 (!!!)
This was only enabled due to central bank policy, which consistently prevented system-wide deleveraging over three (!) decades.
The solution - quantitative easing (QE) - merely caused an unsustainable credit system to metastasize over the next ten years, making future quantitative easing inevitable.
Therefore, the existing financial system is living on borrowed time.
- an excerpt from the 2-minute version of Gradually, Then Suddenly (2019)
https://www.2minutebitcoin.org/blog/gradually-then-suddenly-bitcoinPublished at
2023-05-04 03:11:10Event JSON
{
"id": "06345ec7fb080abbff672689248b3ae381600900194f43debd6595ee1b2ea39b",
"pubkey": "0ea2dab3366701f28beb086adc8849b28c64a25048088fa6b2e5604eff369d71",
"created_at": 1683162670,
"kind": 1,
"tags": [],
"content": "The global financial crisis was principally caused by the fact that the financial system was leveraged approximately 150-to-1 (!!!)\n\nThis was only enabled due to central bank policy, which consistently prevented system-wide deleveraging over three (!) decades.\n\nThe solution - quantitative easing (QE) - merely caused an unsustainable credit system to metastasize over the next ten years, making future quantitative easing inevitable.\n\nTherefore, the existing financial system is living on borrowed time.\n\n- an excerpt from the 2-minute version of Gradually, Then Suddenly (2019) https://www.2minutebitcoin.org/blog/gradually-then-suddenly-bitcoin",
"sig": "de9af3870c52083e5fdb4ae2ac0e89256d97c1a20b489ddb0772ee229e03f85a5af3b99a10892da45e6e57602995cb39653483bb2f177bfaea4a8cf74ec5182f"
}