Financial, Economic and Social Mood Update (January 1, 2022)
Financial, Economic and Social Mood Update (January 1, 2022) The total global cryptocurrency market hit a record high market capitalization on November 10, 2021. Bitcoin BTC and over 16,694 other privately launched electronic digital cryptocurrencies have been surging in value over the past decade. They have already matured to a large degree, having replaced 80 percent of commercial and investment banks all over the world. Traditional commercial and investment banks as we have come to know them over hundreds of years will likely cease to exist by the end of the first trimester (i.e., one-third) of 2022 – this is how rapidly things are changing over into the new digital financial system. The cryptocurrency market reached a record high value on November 10, 2021. As of today, market capitalization is depressed, standing at 24 percent below the value reached on that date more than 7 weeks ago. Nevertheless, many billionaires and millionaires continue to invest capital in the cryptocurrency market – hedging against the very likely probability of the ongoing collapse of fiat currencies. Just how bad is the current situation with respect to inflation? There is nothing “transitory” about this inflation, unless of course we realize that we are transitioning into financial and economic oblivion. More US American Dollars have been created or “printed” within the last 2 years than in all recorded history. This equals a disaster – no ifs, ands or buts. Mexico will launch its own national CBDC (Central Bank Digital Currency) in 2024 – such “governmental” digital currencies will make it even easier for national governments to hyper-inflate their own fiat currencies. In the 24-hour period of December 14 & 15, 2021 both Bitcoin BTC and Zcash ZEC registered severe price swings on certain exchanges, afterwards attributed to computer system “glitches.” Nevertheless, Bitcoin BTC went…