Bitcoin (BTC) would be the solely exit from the “global reset” of finance which is able to permit central banks to even destroy the banking system itself.
That was only one conclusion from Simon Dixon, CEO of cryptocurrency funding platform BnkToTheFuture, within the newest episode of economic information program the Keiser Report on April 7.
Dixon: “World’s largest regulated Ponzi scheme” is dying
Discussing the worldwide coronavirus epidemic and its influence on world finance, Dixon warned that the well being side of the disaster was under no circumstances its worst.
“I don’t want to be dramatic, but this is a global reset in the financial system,” he advised host Max Keiser.
Coming after, he mentioned, was a large “scrambling” for energy by governments and central banks. Taxpayers and people compelled to depend on fiat cash can pay the worth.
“I think we’re going to see a real attack from central banks on traditional banks as we inevitably experience the ginormous consequences of essentially the world’s largest regulated Ponzi scheme.”
After coronavirus: “A horrible, worse version of fiat currency”
The idea argues that central lending establishments will permit banks to die and as a substitute permit residents to open digital forex accounts immediately with them.
As a end result, management of cash, and therefore people who find themselves compelled to make use of it, will turn out to be really easy that the world will enter what Keiser describes as “neo-feudalism.”
The start of this dire state of affairs might be helped by coronavirus – banning money due to issues over an infection is one such instance.
“You’re going to end up with a very, very horrible, worse version of fiat currency to the one we have now, created by banks as debt,” Dixon continued.
As Cointelegraph reported, Keiser as nicely is not any stranger to warning shoppers in regards to the unavoidable collapse of fiat hegemony.
“I have a moral responsibility to keep my 2011 #BTC HODL’ed,” he tweeted over the weekend.
“To legitimize any fiat debt-coupons in any way now… When we are on the edge of victory, would be a crime against humanity.”
Last week, Keiser likened gold to “toilet paper for the rich” because the business underwent a extreme liquidity squeeze. Bitcoin, he and lots of others contend, is the “hardest” cash that has ever existed.
Cointelegraph has moreover touched on the traits which serve to make Bitcoin a a lot safer long-term funding than gold.