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RE: What's Going On With Bitcoin?!

in LeoFinance5 years ago (edited)

I'm the same way. I trust banks less that I trust politicians. At least politicians have to answer for their actions.

When I was a kid I talked with older relatives that lived through the great depression, and the one thing they said that really stuck with me was that banks during that time would only let people withdraw 10 cents on the dollar from their savings, and the bank would take the other 90 cents. They can't do that today because everyone transacts digitally, so they're now talking about jacking up inflation and keeping enough liquidity in the system, but the end result will be a dollar being worth a few cents compared to what its worth now. I'd rather have banks do what they did during the last depression where they stole people's money, because at least the dollar wouldn't lose purchasing power as quickly. What they're doing now ensures that no one will want to use fiat currency ever again.