More bitcoin forks on the horizon......billions of crypto to appear out of nothing, this really makes sense?



Preparing for the Bitcoin Hard Forks: A Step-by-Step Walkthrough

those of you who are old timers here know that I have pointed out that the Investment banks figured out how to get into the money creation game that the FED and the other CB's are in by creating CDS and CDO's and CLO....

Now the really smart young man that created the CDS..... I have the article posted from the WSJ back in 2005 on this thread..... Because my boss had me going through the balance sheet of the Federal Reserve and the US and Global banking system.... where they list the amount of currency swaps, debt swaps and CDS swaps (this is in 2005) and I notice that there has been no growth in FX or Debt Swaps over the previous decade, but there has been 20 Trillion of notional growth in the Credit Default Swaps.....
the FED was getting a little nervous as the 16 principal banks wrote the CDS's and they were OTC and were done verbally as FX and bonds were traded and it took the back office a month to get the paperwork done because the growth was so explosive...... and also you can never do a live time audit of what the value of your book of CDS's and CDO's that you have written because Goldman may have sold one for 50 billion to AIG and then it could have been traded and resold 2 or 3 times before the paperwork was created
for the original deal.

And the other thoughtful and beneficial aspect was that writing a Credit default swap is basically writing a naked put on the fact that a company or bank will not go out of business, and the premise was that Big Banks and other major financial institutions would not fail so you did not need hold reserves to cover the potential loss because there was no potential for loss.

So The very wise investment bankers had created a printing press.... and in fact had usurped the FED's and other CB's monopoly on creating money out of thin air.... digital transaction...... 1's and zero's on a computer.......

But those were the old fogy days when people were square and were not innovators........Because you had a fairly exclusive club of top tier global banks.... that were creating money.....

Now in the teens...... we know how to do it right.... It's Power to the People as John Lennon wrote and sang... Power to the People right on....

This is an excerpt from my 09/01/2017 post: If the Central Banks can create 16 Trillion

dollars on their balance sheets since the Great Financial Crisis.

I see perfectly no good reason why we can not create .... 16 Trillion dollars of Cryptocurrencies...
now wait a minute... I'm showing how little vision I have I need to get my "big boy" pants on and get with the program......... I don't see why we can not create 10 times what the Global CB's have done since 2008 and create 160 Trillion dollars of cryptocurrency,,,,, no lets ride the bull.... it's easy... they had a mechanical bull at Gilly's the Honky tonk in Houston in the 1980 movie "Urban Cowboy" starring John Travolta and Debra Winger....... lets create 10000 times that 16 Trillion.... that's gonna be a."it's all going down".... and" that's the way it goes heading west" ....lets see

10000 x 16,000,000,000,000 =

hmmmmm..just add the 3 zero's and we get a market cap of 160,000,000,000,000,000
that would be 160 Quintillion dollars I believe....10 to the power of 18.

I personally think we could add 3 more 000's and then we would be at 160 SEXTILLION DOLLARS
NOW THAT IS SEX ON THE BEACH..... Hell I'd get out of bed if we're gonna have sex in our money...