For years I have held the thesis that there would be some point in time when the game of fiat currencies backed by "faith and trust" in government would fall like a badly built house of cards. With the kickoff the of global pandemic and subsequent governmental reactions (including accelerating national debt levels) I reasoned that the time of reckoning was drawing nearer.

With the beginnings of the rise of various inflation rates I started saying on the podcast that basically 2023 should be the worse part of the recession. That still may prove to be true but I am very strongly starting to believe it will be in the next few months (say three to six months) instead of the second half of 2023.

This weeks news is packed full of backing for those views. Inflation is beginning to spike sharply in a number of countries. As an example, the Netherlands are reporting 17.1% inflation for September. A number of institutions are experience severe credit issues. Energy production is down. Energy prices in Europe are spiraling upward. The war in the Ukraine is continuing to drag on. Banks and various other companies are beginning to say they don't have liquidity (ie .. cash) to continue. Apparently without a governmental intervention (ie .. injection of cash via creation of more debt) the majority of the pensions in Britain would have been insolvent last week.

So let's dive into the news and remember why we stack sats!!!!!!!

News and Links

Proposal for Reversible Transactions on Ethereum

Germany announces 200 Billion Euro package in Debt Relief

A US CBDC won't be anonymous

Netherlands records 17.1% inflation rate

World banks exposure to crypto

US Federal Reserve Emergency Meeting

Zombie firms and business bankruptcies

Why is the US dollar so Strong against other currencys?

French minister for the economy demanded access to all banking transactions

The second largest steel producer in the UK is seeking urgent financial help

Lynn Alden

Paypal Updates User Agreement - Goodbye Paypal!!

Podcasting 2.0 Apps available at http://newpodcastapps.com/ and Value4Value information page available here: https://value4value.info/

I can be reached by email at [email protected] and on twitter at @McIntoshFinTech. My mastodon handle is @[email protected]. I'm also on matrix at @mcintosh1775:matrix.org. Looking forward to hearing from you!

Website

https://gen-btc.com

Music Credits

Rock Guitar Intro 07 by TaigaSoundProd

Link: https://filmmusic.io/song/8342-rock-guitar-intro-07

License: https://filmmusic.io/standard-license

Funky Life by WinnieTheMoog

Link: https://filmmusic.io/song/6040-funky-life

License: https://filmmusic.io/standard-license

Website

https://satoshis-plebs.com

Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info

I can be reached by email at [email protected] and on Twitter at @McIntoshFinTech. My mastodon handle is @[email protected]. Looking forward to hearing from you!