Fiat is BURNING! Bitcoin Fixes This! (MUST SEE)

Today in crypto, the global insanity of money printing and fiscal irresponsibility is reaching a sickening crescendo Is this good for Bitcoin? Does Bitcoin actually fix any of this in a meaningful way? I know that we like to talk a lot about the meme Bitcoin fixes this But does it really? We live in a world where corruption is rampant and the modern monetary theory Reigns supreme so

we're looking at the big news stories of the day today and they're all about the craziness going on in the global economy right now I also want to consider the implications for Bitcoin now before we do get started I wanted to let you know that block fire has just updated their interest rates So now you can get 6% APR on your Bitcoin by leaving it sit

over there in your block fire interest account You can also get 4.5% on your Ethereum and of course 8.6% on your dollars. That's Gemini dollars USDC and now Paxos you can also now do direct while your transfers over to block fire making it even easier to earn on your crypto or earn on your fiat You can just put your fiat over there and get paid out

in Bitcoin which is pretty cool too They have some of the best rates in town now if you want to get signed up to block fire just click on the link down below Where you can learn more so it's official the IMF has declared a global recession 80 countries are currently requesting help from the IMF Trillions of dollars will be needed they are saying that this

will be a recession that is as bad as or will be worse than the previous global financial crisis back in 2008 And of course they're right of course they're right the global economy it is just starting to feel the pain of the repercussions of what's going on a lot more money printing will happen before this is over they're going to need to do it Because they

cannot let the liquidity issues that are facing so many companies and so many banks turn into insolvency issues because would take down some of the world's biggest banks and companies They may not even be able to prevent that anyway. They may go under regardless of how much money they print now Obviously the sooner the virus is dealt with and the sooner the world economy actually gets

back to work and is less likely to see these extreme pain situations with companies and banks going insolven but the IMF's current estimate for the financial needs for emerging markets is 2.5 trillion dollars So let's get this straight the IMF which of course backed by the USA along with other top economies prints 2.5 trillion dollars to bail out developing economies Funny how no one is talking

about that right just another 2.5 trillion thrown on to the bonfire 2.5 trillion in loans or the you know really this funny money made by adding a few zeros over on the computer and then these 80 plus countries they all have to repay these loans of course with interest obviously that's how it works So countries that are already broke due to the current economic financial system

they're already in debt to the IMF into western countries They'll become even more broke and even more in debt further expanding the power of the IMF in the international cartel of banks and the criminal governments which back it crazy in case you don't know IMF loans are notorious for having brutal clauses that allowed lenders to screw over the borrowers in a whole host of very interesting

ways crazy now For the next story on the economic insanity we see unfolding before us while I have been discussing a lot about the US and their stimulus package also known as the biggest corporate handout in the history of the world with just enough bait to get the peasants to acquiesce and to not briot in the streets you know the stimulus bill Now I didn't want

everyone else in the world out there to feel left out I've been talking a lot about the US so let's just take a quick look and see what's happening over in Moa I don't know let's look at Japan so over in Japan the government is eyeing a 100 trillion yen stimulus package Wowsers now that is nearly 1 trillion US dollars nearly twice the size of Japan's

2008 bailout for its economy so it's 600 billion specifically focused on Corona related spending added on to a previous proposal for 400 billion dollars aimed at easing the pain over the US China trade war they don't really want to do it they make up reasons and print money it's what they do again this is not saved money coming out of the government's savings account for the

rainy day oh no no no Japan is one of the most indebted countries in the world money printer go burr baby let it up get that money printer going in total the G20 countries have committed at least 5 trillion dollars in new funny money to be flooded into the markets this is however just the direct stimulus that they're putting in this obviously does not account for

all the little bits on the side you know like the trillions being used to float liquidity into Wall Street which is nearly 4 trillion in the US and that's just the US Central banks around the world they have promised unlimited liquidity UK on the liquidity the ECB on the liquidity liquidity it's crazy it's impossible to keep track of all the mad as I see so many

the second the second insane bail out for corporations in the top 1% in just 12 years it's mind boggling socialism for the rich and rugged free market capitalism for the rest of us but we can all rest easy knowing that the bankers they're gonna get their bonuses this year it's okay I know you worried about the bankers the shareholders they're gonna be taking care of it's

okay and don't worry the biggest and most irresponsible most profitable and most corrupt corporations in the world they're gonna be just fine man I know you're worried about them don't worry plenty of free money to go around for them the harsh reality though is that tens of millions of people they will be thrown into terrible poverty it will be a tsunami of human tragedy of potentially

unknown epic proportions most countries are doing far too little to help the others people there are some examples of countries that are doing pretty good I gotta say that but for example in the USA they're giving you guys a $1200 bucks sounds okay until you realize that like rent for a studio apartment in New York or Los Angeles that can cost around $3,000 a month that's

crazy $1200 nothing and also for some perspective for you on the priorities of the global elites at the highest estimates of a cost around half a trillion dollars to end hunger and extreme poverty and sure every child has an education and also to end homelessness all the time and the rest of the world is going to be a big deal all those things together and probably

some other stuff too but the powerless in the vulnerable they are never given priorities by governments sure politicians might pay lip service and even from time to time throws some money into these things but in general governments have become the enforcement and regulation bodies of trans national corporations those same corporations obviously then buy the politicians and write the rules you know it's April 1st today here

it is you don't know for some reason March 31st by time with this video but man I really wish that this was all some twisted April full joke I really do it sounds that like it doesn't it sounds that crazy but it isn't it isn't now if we can just stop from going to to appreciate the insanity of government they can spend more money than they

earn when they run out of credit they just increase their credit limit because who decides that they do or their new favorite trick and this is the one that we obviously talk about a lot and that they love so much they just increase the money in their bank account click done control P more money imagine if you could just do that just spend forever with zero

consequences every time you get low on cash you just log in you're in and out banking increased the amount of money in there done that's what governments are doing it's loco man it's a total joke but this is the global economy this is modern monetary theory and look I understand that these corporations and these central banks and these governments they have all painted themselves into a

corner and they have made themselves even more too big to fail since the last crisis of course they would because they know they're too big to fail so why wouldn't they keep gambling with the global economy they've essentially put a gun to the head of the entire global economy again and sadly the options are either let the entire society and the whole system collapse which is

catastrophic millions would die go hungry lose their homes lose their savings lose everything have anarchy and all that crazy stuff wouldn't be good wouldn't be good right or we keep trying to fix the problems caused by printing money with more money printing at some point the money printing won't work anymore so unless there is a serious reworking of the system after this crisis then we're only

going to kick the collapse of the system and then we're going to collapse can down the road we actually need structural reform of the global economy and we know they're not going to change anything unless we have some radical revolution and the way politics is approached it's a great system it works very very well for a very small amount of people and there's no accountability for

any of these players particularly the companies but the politician everyone gets rewarded for this insanity they only have short term goals in mind you know it's all about getting the stock prices to go up which means of course there's zero incentive then to have large stockpiles of cash on hand for emergencies or to save money no none of that stuff it's just spend spend spend print

print print and why would they be responsible they know that every time they get into trouble or that they gamble and they lose that governments will bail them out and governments know that if they spend too much all that to do is crony capitalist system that is fundamentally broken anyway the question for you does bitcoin actually fix some of these things well yes and no come

on we got real here let's start with the nose bitcoin is not ready for the big times that is to be a world currency bitcoin does five transactions per second man come on if we really want to talk about overthrowing the financial system and creating a new and better global system bitcoin is not going to do it alone we need to look to other blockchains to

move us forward as well look at a theorem and the other challenger block chain and the theorem way much more innovation going on in a much more interesting way d5 for example is going to have a giant impact on the way we do business and the decentralization of everything taking some of these power away actually from the banks and stuff like this we're talking about lending

we're talking about money transfers and lotteries and transparency and trading and real estate ownership and transfer of real estate ownership and all this stuff dividend payments and so much more when we talk about corruption and a new system it goes way beyond bitcoin because we need more than just to be able to transfer money from person to person and have digital scarcity we need a whole

new economic system bitcoin also doesn't solve problems related to things like corporate e-responsibility you need actually laws to do that they can keep buying back stocks at a bitcoin digital scarcity system right they can continue not having rainy day funds so long as they have assurances that governments will dig into their savings in this situation to bail them out bitcoin also doesn't fix corruption you can

use bitcoin to bribe politicians just the same as fiat oops I'm sorry we're not meant to call it bribes I mean campaign contributions silly me silly me now there are a lot of things that bitcoin doesn't fix this is true this is very very true but there are some things that bitcoin does indeed fix in some amazing use case that does have in a scenario that

we're facing like this one so the more money that is printed less that fiat is worth meaning that number go up for bitcoin cool but honestly I don't want to have a hundred thousand dollar bitcoin just because the purchasing power of the dollar has gone down so far we're talking about purchasing power bitcoin is always going to be worth one bitcoin it is a digital hedge

against inflation that is for certain the fact that there will never be more than twenty one million bitcoin that's actually really really crazy cool when you compare it to the insanity of the infinite money machines at the central banks man modern monetary theory it's just a freaking joke and really the whole modern fiat thing is like the biggest scam ever devised ever in the history of

the world man it's crazy and look and an era where the banking system looks increasingly sick and fragile I sleep well at night knowing that I have a stash bitcoin sitting in my ledger that I can actually see it in my head and I can see it's a big scale no sanctions can stop me from doing that no capital controls put in place by government can

stop me from doing that I don't have a fear of a bank run and up you know my money out and I control it no negative interest rates will be stealing my bitcoin either just pure financial freedom my way is bitcoin perfect no but I'll tell you this is a hell of a lot better than most of the alternatives that we have out there in the

world anyway those are just my two sito she's as always a quick reminder that if you are new around here and you're still trying to work out all the craziness like how do I buy bitcoin where's safe to buy bitcoin how do I send my bitcoin how do I store my bitcoin and you're also looking for top tips in resources for investing successfully and check out

my course crypto currency explain it is specifically designed for beginners just like you there's a link down in the description where you can learn more anyway your question for today what do you think bitcoin fixes and what does bitcoin not fix I only covered it very very briefly I'm sure you guys are kind of it's really really great ideas so really keen to read your comments

down below in the comment section thank you so much for watching today's video I hope you're having a great day wherever you are I know there's a lot of craziness happening out there in the world right now but hope you're staying safe you're staying fed you're staying connected you're staying social but distant call people on the phone that you know and your friends with all that

fun kind of stuff anyway anyway you guys get the idea you're freaking awesome thank you so much for watching today's video hit that thumbs up button if you did enjoy it and make sure subscribe to the channel if you are new around here long live the blockchain and peace out the next time you