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Why Banks and Governments Ban Binance and try to deregulate crypto!

Take a good look at countries debt and their total reserve in banks. Take a good look at what newspapers are writing about crypto. And take a good look at what central banks says about crypto and the current currencies.

The fact is countries are in a deep debt!
1. US $26.70 trillion as of August 31, 2020
2. UK $2.54 trillion or £1.876 trillion
3. EU $14.79 trillion or €12.5 trillion
4. China $5.6 trillion
And …..

All of these big countries with big debts needs to pay it off and they need more money so they will need to print more money, rise taxes, increase bank interests on loans and all of this will lead the world to inflation.

So they will do whatever they can to pay that debt with lower value and make money while they pay their debt in a huge inflation.

What comes next is to stop me and you from buying assets (mostly crypto as it has eyes of everyone on it). So they keep our money in our own bank accounts. That’s a very good news though, because then we can fill our wallets with crypto now (with other bank accounts) and wait for the right time!

The problem is not Binance, the problem is global debt and huge upcoming inflation.

Thanks you for your time and please do excuses me if I made any mistake above. It’s just my thoughts and I appreciate your opinion on what I have stated above.

What do you think?

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9 Comments

  1. National debt isn’t actually a problem for a country that has a sovereign currency, as it’s impossible for it to default; money could be printed to pay it off completely. Policies like the US debt ceiling are the only constraint, but they are completely arbitrary.

    > 1. US $26.70 trillion as of August 31, 2020 2. UK $2.54 trillion or £1.876 trillion 3. EU $14.79 trillion or EUR12.5 trillion 4. China $5.6 trillion. All of these big countries with big debts needs to pay it off and they need more money so they will need to print more money, rise taxes, increase bank interests on loans.

    The EU is not a country. The Eurozone members do not have a sovereign currency, so they can’t print more money. This means they could indeed default on their debt. Your arguments do apply to the Eurozone, but not the other countries.

    > increase bank interests on loans.

    Debt is actually why The Fed won’t put interest rates up significantly, because it increases the cost of that debt. It’s unlikely that banks would decouple their loan rates from the underlying interest rate; they may go up, but not to the levels seen historically (eg, like in the 70s).

    > and all of this will lead the world to inflation. So they will do whatever they can to pay that debt with lower value and make money while they pay their debt in a huge inflation.

    Inflation will occur, but the timescale is probably much longer than you assume. As long as a country’s economy functions correctly, without extreme corruption, monopolies or long-term supply chain and labour issues, inflation should be manageable, via the fiscal and monetary policy tools that countries with sovereign currencies have. Thus, even though everyone has been screaming about hyperinflation in the US for over a year, the rate is still modest, despite the supply chain issues caused by the pandemic. Prices have indeed increased on many goods, but they will normalise once everyone can go back to work.

    > What comes next is to stop me and you from buying assets (mostly crypto as it has eyes of everyone on it).

    Governments don’t like crypto because it operates outside of their financial systems and economies. Rather than embracing it and building industries around it that create revenue, they outlaw it. This is because they have too much invested in the traditional banking system. The lack of foresight is simply caused by political ignorance and incompetence.

    > So they keep our money in our own bank accounts.

    They don’t want you to keep your money in your own bank accounts. They want you to spend it. Consumerism creates jobs, tax revenues, business profit etc, which keeps all the index charts going up and to the right. This is what the wealthy invest in and profit from.

    > The problem is not Binance, the problem is global debt and huge upcoming inflation.

    Binance is a problem for governments, because it sucks fiat out of their economies. It’s much easier to shut it down, and keep the status quo, than nurture the industry to create better products.

  2. If I owe $10,000 to my neighbor but they owe me $10,000, then my debt might not be as big an issue as people may make it out to be.

    Now imagine that I borrowed $10,000 to subdivide a room in my house so I could rent it out for extra income and my neighbor borrowed the money to buy a brand new second car for leisure. One person is taking on debt to increase their income and possibly the capital value of their home while the other has purchased a depreciating asset. While this is good for me is also maybe a problem that the person who owes me money might have difficulty paying it back.

    This is just to highlight that “the problem of global debt” is actually a lot more nuanced than it is usually made out to be.

    As for inflation, you could spend your entire life studying and still be learning new aspects of it. Keynes and Hayek are still being debated to this day and I would highly recommend familiarizing yourself with both perspectives.

  3. Yh makes sense, only thing is i dont think china is in debt according to tldr global news video because they are the country which countries are mainly borrowing from (they still might be in debt i havent checked but thats just what ik)
    But in general it makes sense, banks keep money regulated (i think u might have mistitled cos my understanding was fiat is generally regulated but crypto isnt) they have the control but crypto stops that and gives back control to the people, obvs the banks and governments dont like this hence they are banning. The mere act of saying to people you cant spend your money on crypto is the exact reason y we need crypto. If i work hard and earn money I should have the freedom to spend it on what i want.

  4. Banks and governments are targeting Binance because Binance has systematically and consciously built a business around evading existing regulations. They allow criminals and terrorists to use their exchange to launder the proceeds of crime (do you really think hundreds of millions of dollars in BNB are being bought and sold on Binance every hour?); their corporate structure is built for the purpose of regulatory arbitrage because the cost of being a law-complying exchange would outweigh the profits of being a non-compliant one (do you really think that they have only realised recently that there are certain laws and regulations they have to follow in each jurisdiction in order to be able to operate legally?); and they launch a whole bunch of shit coins, securities tokens and other nonsense and provide users like you with extreme leverage so you can lose your life’s savings on them.

    The walls are closing in, and I would celebrate the day that modern day bucketshops like Binance get regulated out of existence. Besides Tether, Binance is the next biggest systemic risk in the entire crypto ecosystem.

  5. Deflatory impact of crypto investments is negligible. Besides, there are other means of increasing inflation like quantitative easing. If you are from US then please explain why Fed announced long term interest rare increase strategy if all they want is inflation?

  6. I just went in bank and got told, that digital currency is damaging our economy, this is why banks are banning it, what a fucking joke. I’d lv to see the banks in ruins!

  7. I agree, I think there are bigger things at play, not binance alone. I do not trust binance btw, because it is a financial institute like any other bank, and the have to report your assets to the government

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