Comment on SEC says it will deregulate cryptocurrencies with 'Project Crypto'
UnderpantsWeevil@lemmy.world 3 weeks agoYou say that now, but wait for the US economy to completely shit itself.
COVID and the Great Recession were both spectacular for reducing emissions.
timbuck2themoon@sh.itjust.works 3 weeks ago
I mean, global economy really. Crypto has the potential and already fucked a few banks when it shit itself which could’ve led to awful bank runs.
If/when it destabilizes the American banking system the entire global economy will follow its lead down, at least a bit.
Like I don’t think people understand how devastating letting a scam like this into proper finance can be. Finance itself already has way more latitude than it should- wait until this just splits everything wide open.
UnderpantsWeevil@lemmy.world 3 weeks ago
One of the nice things Trump has been doing has been decoupling the US domestic market from the global chain. If we can keep ourselves propped up for another couple of years, the collapse will remain contained to ourselves and our immediate allies. I mean, case in point, Russians and Iranians and N. Koreans and Cubans are so sanctioned to shit that they don’t really care if the dollar takes a tumble.
2008 was the hard lesson. Too Big To Fail means the scammers are the only ones who walk away from the mess.
anomnom@sh.itjust.works 3 weeks ago
Yeah I had arguments with my late brother about this, but 2008 could have been the perfect time to let banks fail or be completely federalized, and directly bail out home dwellers and implement universal basic income at the same time to make the “payment systems and retirement funds will vanish” argument invalid.
I_Has_A_Hat@lemmy.world 3 weeks ago
For some, that is the point.