Giant banks may face their biggest fear
Swiss Credit Suisse has been facing financial difficulty lately. There are some rumours about the corruption of the oldest and most prestigious bank in the world. Bankruptcy will trigger a new financial disaster in the world. The crisis-related atmosphere that has surrounded Credit Suisse in recent weeks seems to have subsided. Still, the strategic issues that sparked rumours of a near-death experience and a decline in the companys share price continue.
Credit Suisses problems may be its own, but a recession in Europe which at this point appears to be all but inevitable would have effects well beyond the continent. Commentators continue to debate whether or not the U.S. can avoid the same destiny, but even if it does, recession worries often drive down bank stocks and many other assets.
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Swiss Credit Suisse has been facing financial difficulty lately. There are some rumours about the corruption of the oldest and most prestigious bank in the world. Bankruptcy will trigger a new financial disaster in the world. The crisis-related atmosphere that has surrounded Credit Suisse in recent weeks seems to have subsided. Still, the strategic issues that sparked rumours of a near-death experience and a decline in the companys share price continue.
Credit Suisses problems may be its own, but a recession in Europe which at this point appears to be all but inevitable would have effects well beyond the continent. Commentators continue to debate whether or not the U.S. can avoid the same destiny, but even if it does, recession worries often drive down bank stocks and many other assets.
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Crypto could replace mainstream currencies, but they will never succeed because governments and banks won't allow it. Such entities will simply launch CBDCs of their own to stay in power as much as possible. As far as decentralized cryptocurrencies are concerned, they will only remain as an alternative to the current monetary system for those who need them the most. Just like Gold is living alongside Fiat, the same will happen with Bitcoin and other cryptocurrencies. You can see why El Salvador hasn't abandoned the US Dollar completely even though it adopted Bitcoin as legal tender a year ago.
You can't simply avoid Fiat altogether when the world is too attached to it. Transitioning from the Fiat standard to the Bitcoin standard is going to take a lot of time and effort to become a reality (if it ever does). Let's face it, banks are too powerful and there's nothing we can do to stop them. As long as governments exist, don't count on Fiat's disappearance anytime soon. Just my thoughts
