Never at any other point in history have governments owed so much to so many. And with central banks complicit in their relentless money printing, more investors are making their voices heard by betting big on Bitcoin.Lots of protection for something you could keep making more of (Image by Reimund Bertrams from Pixabay)\u201cWhen you owe the bank money, it\u2019s your problem, when you owe all the banks money, suddenly it\u2019s their problem,\u201d a stone-faced Chen said to the lawyer taking his deposition.Accused of unauthorized trading of hundreds of millions of dollars\u2019 worth of oil contracts, Chen was CEO at the time for a prominent Chinese oil trading company which was believed to have had links to Beijing, and which had traded well beyond its allowed mandate.But the banks had been complicit as well, extending copious amounts of credit to Chen, despite having suspicions that he neither had the authority to execute trades of such magnitudes, nor did the company have the assets to back up any losses.Yet the banks lent anyway, believing that Beijing would intervene should anything go pear-shaped.And pear-shaped they went.After a series of disastrous trades, Chen\u2019s firm was in the hole to the tune of US$800 million, but had assets no more than US$150 million at best.And as the 2008 financial crisis hit, the oil trading firm he once headed was starting to buckle under the strain.Ultimately the banks settled, agreeing to take cents in the dollar and allowing the firm to continue operating as a going concern, but their losses were in the hundreds of millions.Money For NothingFast forward to our present epoch and it\u2019s governments from rich countries now who have had no choice but to spend as much as a fifth of their GDP to support households and businesses facing down the economic fallout\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Jamais \u00e0 aucun autre moment de l'histoire les gouvernements n'ont d\u00fb autant \u00e0 tant de personnes. Et avec les banques centrales complices de leur impression d'argent implacable, plus [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/3052"}],"collection":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/comments?post=3052"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/3052\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/media?parent=3052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/categories?post=3052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/tags?post=3052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}