Posted 2 years ago | by Ben Armstrong
Deutsche Bank Thinks Cryptos may Replace Cash
In a recent note from Deutsche Bank the unthinkable hit the markets: cryptos are poised to overtake fiat currency!
Of course, anyone with any background in modern economic theory will tell you that both government mandated fiat currency and cryptos are both forms of fiat currency, and that neither actually has any utility outside of savings and trade.
Leaving that to the side for the moment, here is excerpt from the bombshell Deutsche Bank report:
“If one of the GAFA [Google, Apple, Facebook and Amazon] (or their Chinese counterparts BATX [Baidu, Alibaba, Tencent and Xiaomi]) for example are able to overcome regulatory hurdles...this would broaden the appeal of cryptocurrencies, hasten their adoption, and give them the potential to eventually replace cash.”
The “Imagine 2030” report also said that fiat currency looks “weak”, which might be the understatement to eclipse all understatements.
Thanks Deutsche Bank-You are Captain Obvious
Saying that fiat currency looks weak is like saying that Elon Musk is a little off. The man should clearly be under suspicion for being of extraterrestrial origin, and the fiat currency system/global central banking cabal is skating on the bleeding edge of total destruction.
For the record, Deutsche Bank is still bankrupt, and has been since the financial crisis of 2008. Yes, you read that right, one of the biggest European banks was unable to regain solvency during the EZ money boom of 2009-2019.
The bank may have some idea of how absolutely terrifying things are behind the scenes in the world financial markets, and they also might be positioning themselves as a thought leader before the global financial system hits the wall going 1000 miles per hour.
Or would that be in kilometers per hour...it's a German bank...
No Virginia, There is no #@%*$&^ Santa, But Financial Armageddon is Very Real
Most people think about decentralized cryptos like Bitcoin in a sense that is based in profit from trading or investing. For people in places like Venezuela, they are more interested in using a currency that will allow them to gain access to things like aspirin, or fresh drinking water.
No one wants Venezuelan Bolivars, and they haven't for some time.
The Deutsche Bank report says that cryptos must gain acceptance from governments before they really take off, but the fine folks at a massive, money laundering, bankrupt banking entity might be wrong on that.
No one in Venezuela, Eritrea, or Turkey cares what their government thinks about Bitcoin, they just want to have some option for a currency that doesn't involve a highly politicized monetary and banking system.