Member-only story
How the US Gov proves a need for Bitcoin
And what needs to change
What happens when the central banking system of USA i.e. the “Fed” decides to print more money? People’s savings go down in value. Older citizens who might have been saving for decades for their retirement see their savings slowly erode. And the worst part — who gets this newly printed money? The government decides. In this case, the Trump administration. A very small number of people in the US government can simply print US Dollars while everyone else has to work for it.
Corona virus has been tough on us all. People are losing jobs left and right. And to make things worse, they’re stuck at home and are unable to go outside to search for jobs or just get a breath of fresh air (literally!). Not to mention the effects this long term seclusion will inevitably have on our mental health.
Giving money to people in need so they can make ends meet in these catastrophic times is the humane thing to do. But governments from all across the globe are also bailing out huge corporations. In fact this article shows that it’s the biggest government bailout collectively, in 50 years. Giving money to single moms is justified but do we really need to safeguard the stock prices of major companies from falling? Just to protect the profits of hedge funds so millionaire investors don’t see the value of…
