Hi,
Confidence among the main players in the money market is being severely tested. For the time being, the US Federal Reserve is not easing up and is forcing all other world currencies to depreciate against the dollar through ever higher interest rates. Given that most of the credit to countries is still denominated in dollars, this works for the FED perfectly, because everyone needs dollars to pay the interest. Of course, the rest of the central banks do not like this, because their liabilities are increasing. Most of the time, this is solved by printing money. This year, the British pound has lost the most against the dollar, and the euro has lost almost 20%.
The first big crack was in the GBP market, where, after less than a week of tightening, the Bank of England had to step in and send additional liquidity to the market (print money) to temporarily save pension funds from illiquidity. In doing so, it was also supposed to rescue BlackRock. Credit Swiss and Deutche Bank are also said to be in trouble. In the next few weeks it will become clear who will be the next victim of the existing monetary system, which is beyond repair. The stalling or capitulation of the players who run this type of policy and system may be years or decades away. However, it is necessary to realise that the longer this situation lasts, the more damage will be done to the ordinary people, who are not the beneficiaries of the bonuses that only a select few closest to the players receive as a result of such policies. The system is not working for us!
Change or a solution will not come from within the existing system, but will have to come from outside. You probably understand what I mean. Bitcoin, or "Fuck you money", is the solution.
Unfortunately, it is necessary to recall once again the predictions of the 'experts', including the head of the ECB and the head of the Fed, who, just a year ago, were convincing us that inflation was only temporary and that it was even good for us. Let us also remember that they reassured us that they were on top of the matter, that they knew the steps to take and that they would sort it out quickly. None of this is true.
Inflation in the euro area is at a record high. Germany is registering more than 10%. The entry of the state into price-regulated markets, where the laws of the free market should apply, may bring short-term price suppression, but in the long term we, the citizens, will pay significantly more than if the market were to operate independently, freely. If the state caps prices and pays the difference to producers (if it does not pay them, they will go out of business because they are uncompetitive), then these extra funds have to come from somewhere. Through additional taxes and/or inflation. In the end, we always pay the price of manipulation. But we are far from the peak of inflation.
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