Capital Controls Coming

Crypto is a Real Threat to the Fractional Reserve Banking System - Banks Reacting

It is the year 2023, the world has had a bunch of banking crises, and debt is spinning out of control.

Cryptocurrencies like Bitcoin have become so popular that people are starting to lose faith in the traditional banking system. Banks are beginning to respond by limiting withdrawals, which is only making the situation worse.

Capital Controls Coming

Crypto is a real threat!  Banks now fear bank runs… and the fractional banking system is threatened.

Nothing instills confidence in banking more than limiting withdrawals ;o)

The Threat

Cryptocurrencies pose a threat to the traditional banking system because they offer a decentralized alternative to fiat currencies. Fiat currencies are issued by central banks, but cryptocurrencies are not. This means that cryptocurrencies are not subject to the same controls as fiat currencies. Lack of control also terrifies central banks

The Future

It is unclear what the future holds for the traditional banking system. If cryptocurrencies continue to gain popularity, banks may be forced to make major changes to their business models. It is also possible that a global banking crisis could be triggered if banks become too concentrated in their holdings of fiat currencies.

GLOBAL CAPITAL CONTROL STATUS

🇨🇭 Switzerland (Staggering withdrawals) Early Stages

🇬🇷 Greece (Capital controls in 2015) Ended

🇨🇾 Cyprus (Capital controls in 2013) Ended

🇦🇷 Argentina (Withdrawal limits in 2020) In Force

🇻🇪 Venezuela (Withdrawal limits) In Force

🇱🇧 Lebanon (Informal capital controls) In Force

🇮🇸 Iceland (Capital controls post-2008) Ended

🇮🇳 India (Demonetization in 2016) Ended

🇪🇸 Spain (Monitoring large withdrawals) In Force

🇮🇹 Italy (Monitoring large withdrawals) In Force

Conclusion - BANK YOURSELF

Start taking control of your finances and become your own bank.