European Central Bank To Create Money To Buy Assets- Bitcoin Has Higher Probability Of Adoption?

Yesterday, there was a Q&A session on Twitter held by European Central Bank.

A Twitter user Gianluca Nervegna questioned, “Where did you get the money for QE(Quantitative Easing)?”. QE is when a central bank conducts a large-scale purchase of assets in an attempt to stimulate the economy and increase liquidity.

Generally, the central bank purchases government bonds or other financial securities during quantitative easing. Over the last four years, for example, the European Central Bank has spent almost $3 trillion on bond purchases.

This draws our attention back to the question on Twitter: Where did the ECB get this $3 trillion??

ECB’s Chief Economist Peter Praet’s words make us think like they created money out of thin air. When central banks and governments choose to print more money easily, they are stealing wealth from the majority of the population and enriching the elites. According to the IMF, inflation is one of the leading causes of income inequality in the world.

Central banks may print more fiat dollars, but ultimately, the Ponzi scheme(fraud schemes) will come to end.

According to Co-founder & Partner at Morgan Creek Digital, Anthony Pompliano, when Ponzi scheme ends, Bitcoin will be there, as rare as ever, with the inability for anyone to print more, the Bitcoin is going to have a higher probability of adoption.

What do you think about this? Let us know, share your thoughts and views in our comments section.

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Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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