Quote from: Fortify on August 26, 2022, 06:27:07 PM

This is just the beginning and we are far from the peak right now, it's going to get a lot tougher in every country - we'll miss the relatively calm, stable and good times we've been living in the past decade. Unfortunately Covid sent a lot of logistics chains out of whack, it was starting to look brighter as much countries came out of the pandemic 2 years later with a bit of a buffer built up for some people. Now the war that Russia started against Ukraine has caused all sorts of new difficulties. The saddest part of it all is how unnecessary it all is, Ukraine was moving towards a more free and democratic society, but Putin was offended that one of his cronies was ousted and decided to murder hundreds of thousands of people because of it.

It's a crazy world we're living into. Inflation will continue to rise until COVID-19 and the Russia-Ukraine crisis are solved for good. People can't expect the economy to magically recover when such issues are present. Central banks may try to take a "hawkish" stance against inflation, but they will ultimately fail as inflation becomes uncontrollable. The US Dollar was severely affected, causing a "domino effect" over other Fiat currencies such as the Euro and the Japanese Yen. Crypto was once hailed to be a safe haven against inflation (especially Bitcoin), but it has ultimately failed in doing so because of the deteriorating global economy.

The only way to change this is if crypto (mainly Bitcoin) becomes the standard unit of account. This means replacing the US Dollar with Bitcoin as the world's reserve currency. But that's very unlikely to happen soon because governments won't let go of Fiat no matter what. We'll see how everything will turn out to be in the future as the aforementioned events continue to leave a mark in the global economy. Just my thoughts Grin