In episode 844 of the Joe Rogan Experience podcast featuring security expert and author of Mastering Bitcoin, Andreas Antonopoulos , stand-up comedian and sports commentator Joe Rogan expressed his optimistic views towards Bitcoin, stating “I’m all in, I’m on team Bitcoin.” Rogan’s final remarks at the very end of the show were amassed throughout the podcast, during which Antonopoulos examined and evaluated the vulnerabilities and inefficiency of today’s financial systems in great detail. In particular, he referred to the outdated services and products of banks which grant several financial institutions a complete monopoly over a country’s monetary system and economy. Control of banks: bloated economy The focus of the talk was established primarily on the control of banks over a country’s monetary systems and how that is abused to create a bloated economy. When an economy is struggling from dealing with financial instability or poor performance from major stock markets, the solution which is often presented by the central bank is to print more money. For instance, the Federal Reserve Bank would print trillions of dollars to be sprinkled on top of a troubling economy which is essentially distributed to the country’s banks and government agencies. One major misconception behind this theory of quantitative easing is that trillions of dollars will eventually reach every business, individual, and organization at the bottom of the economy. What actually ends up happening is that the top 1% benefit from this illegitimate distribution of money and others become negatively affected by the rising inflation rates. This inevitably increases the value of products, services, and companies in the market. Banks take away people’s financial rights More importantly, banks have simultaneously begun to impose various policies and financial frameworks which damages savers earnings. These people usually invest in the bank or grant financial institutions control […]
