• THERE’S NO REASON TO TRUST BANKS AND, THANKS TO BITCOIN, WE DON’T HAVE TO

    April 1, 2023
    No Comments

    Trust in central and commercial banks is eroding quickly. The internet and social media are oil in the fire and Bitcoin is the extinguisher.

    Public Domain

    Please Follow us on Gab, Minds, Telegram, Rumble, Gab TV, GETTR, Truth Social 

    Banking only works when there is trust. It’s fundamentally based on the belief that the banking system is strong and resilient enough to protect your money. But this trust-based system has shown that the rich and powerful benefit from this protection. As we saw in 2008 and since, the regular taxpayer is paying the bill.

    It’s ironic that Credit Suisse, which emerged as one of the winners of the 2008 financial crisis, is among the first banks to bite the dust in this current crisis. Between 2008 and 2023, we’ve seen many scandals, constant litigation, terrible risk management,and never-ending drama, slowly eroding trust in a once prestigious institution.

    So, who has to pay the price for this? You guessed right: Everyone in Switzerland does! The Credit Suisse bailout (though no one officially calls it a “bailout”) is estimated to cost Swiss taxpayers a staggering 109 billion Swiss francs ($13,500 for every man, woman and child in the country)...

    To read more visit Bitcoin Magazine.

    ‘NO AD’ subscription for CDM!  Sign up here and support real investigative journalism and help save the republic!  

    Author

    Avatar photo

    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
  • Subscribe
    Notify of
    guest

    0 Comments
    Inline Feedbacks
    View all comments
    magnifierchevron-right

    Subscribe to our evening newsletter to stay informed during these challenging times!!