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The Bank of England are claiming crypto may cause the next big crash... Totally ignoring their money printing, housing bubble, Brexit, wild inflation, cheap credit and any of the other numerous economic issues facing the UK

The Bank of England are claiming crypto may cause the next big crash... Totally ignoring their money printing, housing bubble, Brexit, wild inflation, cheap credit and any of the other numerous economic issues facing the UK

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by COINS NEWS 24 Views

The Bank of England have, with a straight face, come out and claimed that Bitcoin could trigger financial meltdown.

https://www.theguardian.com/technology/2021/oct/13/bitcoin-could-trigger-financial-meltdown-warns-bank-of-england-deputy

I live in the UK, and we are in the middle of some rather serious economic problems.

We have runaway inflation, we have a housing bubble that the government keeps pouring fuel on. We have rock bottom interest rates that the Bank of England are too scared to increase due to the housing bubble. We have energy prices going through the roof, a potential trade war with the EU due to the idiocy of Brexit, and wages that have been broadly stagnant for a decade. We also have a government that has implemented the highest peace-time taxes the Country has ever seen and a social care crisis due to our ageing population. Throw in our endless printing of money and the sums that have been spent on dodgy covid contracts, we are not in a good place.

And despite all this, they have the audacity to claim crypto is the real threat?!! We can't even seemingly stock our shops properly at the moment and we've just had a petrol (gas) shortage! Crypto is not the issue facing the UK!

Honestly, the desperation of the central banks is at this point clear for all to see. We have immediate and serious economic problems that need to be urgently addressed, but they would rather create bogeymen.

I nearly spat my tea out!

submitted by /u/TrueSpins
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