Five years ago, I found myself in Buenos Aires, Argentina on a long-awaited vacation to the South American country. The country has a very European flavor with some 97% of its population having Euro roots. Specifically, there is a concentration of Italian and German surnames in that country. It was interesting to me as a native Central American how there were so many famous people from Argentina with Italian names (Manu Ginobili of NBA fame and Gabriela Sabatini from the world of tennis). This Italian heritage definitely comes into play in Argentine politics.
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There is a limit to how many can be created. There can be 21 million Bitcoins in total. This is to avoid the currency from becoming worthless from overproduction like fiat money. Diminishing geometric expansion combined with the expansion of Bitcoins provides an incentive for early adopters.
People are reporting this as a major stumbling block for broad acceptance of Bitcoin. I say, so what? Somehow I seriously doubt Bitcoin enthusiasts all over Thailand shut their digital wallets and deleted their Bitcoin Millionaire Pro Erfahrungen. In fact, if I had to guess I’d say they probably carried on business as usual and the ban hasn’t impacted them at all.
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In the 90s, Argentina’s debt continued to increase. Their lender of last resort, the IMF, continued to lend and extend payment schedules. Much IMF funding comes from the U.S. Our lender of last resort, the Fed, has continued to lend to the government and for all intents and purposes, are extending payment schedules since debt is continually rolled over. Consider the Fed is doing this in order to fill a void by reluctant private lenders at currently low interest rates and to keep those same interest rates low – yet more distortion.
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