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RE: FED's unprecedented plan explained to noobs

in LeoFinance2 years ago

On the attack on Luna I see more the hand of some traders/institutional investors who saw easy money--and so they did. Institutional people in my opinion have no interest in attacking BTC too deeply, for them it is a tool to make easy money (relatively small and maneuverable market). Different case is governments who have every interest in sinking or regulating cryptocurrencies, an example is the clash between IMF and El Salvador, which is now a country on the verge of bankruptcy. IMF would be willing to lend money in exchange for the government's step back on BTC. Why? But let's face facts! Since there is no currency conversion all currency exchanges are based solely on trust, there is no underlying. The few who hold monetary policy in their hands can decide the welfare of millions and maneuver inflation and unemployment, which result in joy and tragedy. The entire capitalist system is based on economic cycles of growth and destruction. I am not advocating this, but the Austrian school of economics. Numerous insights start from here but I will not elaborate further. I am glad you enjoyed my post. See you soon.