The Federal Reserve of the United States has this month printed another astronomical amount of dollars. The FED’s current balance sheet is approaching $4 trillion. Is there a financial crisis ahead of us that is greater than the one in 2008?

The Fed’s balance sheet is approaching $4 trillion.

As noted on October 21, Dennis Parker, a crypto-currency expert, FED has pumped another 210 billion dollars into the American economy since mid-September.

This is part of a newly revamped QE strategy that exceeds Bitcoin’s total market capitalization of $148 billion!

QE refers to the purchase of government bonds to provide economic stimuli and thus stimulate the economy.

The FED’s balance sheet, Parker notes in a tweet, jumped from USD 3.77 trillion last month to USD 3.97 trillion. Earlier projections are even higher as the FED predicted a balance sheet of USD 4.7 trillion by 2025.

Financial crisis? “We are sleepwalking towards it”.

For asset holders such as gold and bitcoin, regular reprinting of money again exposes calls to reduce dependence on the fiduciary currency.

Parker’s suggestion that investors should buy BTC was overshadowed by warnings from the fictional establishment itself about the poor condition of the system.

In a speech at the General Assembly of the International Monetary Fund last week, former Governor of the Bank of England, Mervyn King, told participants that the world was ‘sleepwalking’ towards a financial crisis that could be even worse than that of 2008:

By sticking to the new orthodoxy of monetary policy and pretending that we are ensuring the security of the banking system, we are sleepwalking towards this crisis.

What is your opinion on this? Is the fiduciary system really heading towards extinction? What role can bitcoin play in this situation? We invite you to join us in the discussion.

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