Speaking of banks, it's a question that concerns me. I've talked to my friend recently about Trump's idea of the $2 trillion financial package, and we both agreed that they'll be printed out of thin air. Where we disagreed is the outcome. I said I worry it might be too much, and since the US is already not in the best position with that debt to other countries plus the world economic crisis is saying 'hello' already, it can trigger an unexpected decrease of the dollar's value (meaning its purchasing power) or even lead to hyperinflation at some point. He believed it'll take years of printing money like this to make a 40% value decrease...
And as for Bitcoin and the government, I agree that we should not rely on the latter, but retailers need to offer where one can spend money because the current options are very limited and thus spending Bitcoin on essentials is next to impossible (at least, in my country).
You are correct, and your friend is a COMPLETE FOOL. When the inflation starts, make sure you tell him what a total idiot he was for supporting the destruction of the country.
VENEZUELA, ZIMBABWE, ARGENTINA, the list is endless. This kind of printing ALWAYS ends in hyperinflation, and NONE of these countries started out with the intent of destroying their countries and economies, but they did not know when to stop printing....
BitCoin has FAILED as a currency for common daily purchases, that has been known by the vast majority of people for years now. Do not live in a FANTASY, you seem smart in some things, so keep informed and never stop learning.
Hard Facts