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Banks are quasi-governmental institutions, they will always be bailed out. They hold a special governmental license to create money. Too big to fail they call i
by dpweb 4y ago
Banks are quasi-governmental institutions, they will always be bailed out. They hold a special governmental license to create money. Too big to fail they call it.
Crypto ain't money, it's an asset class. Asset classes rise and fall, But none of these "billion dollar firms" created yesterday by a 25 year old are going to be safe when the price plummets given the highly leveraged nature of it all.
- jacknews 4y agoThey're private corporations with the privilege to create money. They should not also enjoy the privilege of being absolved of problems caused by their excesses. Crypto should certainly not get government bailouts.
- Ekaros 4y agoBanks will likely stop being bailed out if we move to central bank digital currencies. If the money can still be moved around and things settled, banks are very much less needed.