Re: Bitcoin vs. Cash Inflation — A discussion on which is better
You are speaking as if, in a pandemic, a company dies due to a healthy competition, or due to not being able to keep up with the latest technologies, or due to not being run well, and so on. It is certainly not the case. The case is that these companies are not allowed to operate. Hotels, casinos, resorts, airlines, shipping lines, restaurants, shopping centers, and even manufacturing companies are closed.
2 month without income should not kill a well managed company. No matte what is the case. If we would let strong survive and weak bancrupt than we could start building on the ashes when demand will show profit in a given sector of the economy. There is no need to hold in life companies that might (or might not) be usefull in next few months/years. What if f.e Hotels wont be profitable for next 5 years?
We are now outside of covid season. What if we will see second wave in december? Guy who could bancrupt with 100 000 in debt will bacrupt with 1 000 000 in debt and this will be final score of cheap loans.
What I'm trying to say is that it is not everyday that the Fed is printing billions. I mean, the monetary mechanisms, although most probably abused, are there for dire times. I cannot imagine how the economy would fare out in a severe crisis without all this, say, in a Bitcoin-run economy.
We had gold standard before 1971 so you basically can't imagine how people leave 50 years ago? What happend after 1971?
source of all
Don't be fooled that this is done to help the poor and needy