Finance

Agustín Carsten Implores: “Stop Trying to Create Money!”

...Does He Mean From Thin Air?

Agustín Carsten is the General Manager of the Bank of International Settlements (BIS), the institution which can be described as the central bank of central banks, and this is not the first time that he heavily criticized technological advancement.

Back in February 2018, in his “Money in the digital age” speech at Frankfurt’s Goethe University’s House of Finance, the BIS General Manager used the podium to blast Bitcoin (BTC) and cryptocurrencies in general.

“The novel technology is not the same as better technology or better economics,” Carsten began explaining. “That is clearly the case with Bitcoin: while perhaps intended as an alternative payment system with no government involvement, it has become a combination of a bubble, a Ponzi scheme, and an environmental disaster,” he somehow deduced.

While he was giving his passionate speech, the stock market was losing trillions of dollars.

His latest interview with Swiss German-language newspaper Basler Zeitung showed us that he didn’t change his point of view, but instead deepened the void between new technologies and himself.

“Glance back into the past, and you will see that creating gold or money from nothing has been a regular obsession. It never worked. Even the great physicist Isaac Newton was at one point in his life obsessed by alchemy and the idea of making gold. He was very successful in many fields, but in this one, he failed. Newton ended up as head of the British Mint. Why? Because he could detect at once if a coin was counterfeit. After he failed in his attempt to make gold, he switched sides and sent counterfeiters to prison. So my message to young people would be: Stop trying to create money!”

Furthermore, Carsten stated that “it’s a fallacy to think money can be created from nothing,” maybe disregarding the mechanism behind the inflation of FIAT currencies.

It is important to note that gold hasn’t backed the US Dollar since August 15, 1971. Furthermore, the value of this world’s reserve currency has been steadily declining since the establishment of the US Federal Reserve, which is creating money from thin air (debt).

Purchasing power US Dollar 1913-2013Purchasing Power US dollar 1776-1986

However, there are those who would, rather than spilling criticism, emphasize the ongoing financial trends. We should let the readers decide if the criticism is “unfounded” or not.

The Intercontinental Exchange Inc. (ICE) CEO, Jeffrey Sprecher was interviewed by Bloomberg back in April. He stated that his institution, which is the owner of the New York Stock Market, can’t ignore the traders’ willingness to invest in cryptocurrencies.

“People put more faith in a guy named Satoshi Nakamoto that no one has ever met than they do in the U.S. Fed,” he explained, referring to the creator of Bitcoin (BTC), before concluding that people are naturally more comfortable with technology than the institutions of government and society they grew up with.

Luka Kapetanic

An ex-restaurant business owner turned cryptocurrency fanatic, with over 12,000 followers on investfeed.com. Miner, Investor, trader and, above everything else - a writer, with coinlive.io, and cryptodigest.com in his jobs portfolio.

Related Articles

386 Comments

  1. Tayland’ın resmî bir dini olmasa da, halkın büyük çoğunluğu Budist’ karşın Taoizm,
    Hinduizm, İslam, Hristiyanlık gibi dinlere mensup gruplar da
    ülkede yaşamaktadır. Ancak anayasada Tayland hükümdarının Budist
    olması gerektiği yazmaktadır. Ülkenin Budist tapınakları aynı zamanda Tayland halkının geçmişini yansıtan en iyi örneklerdir.

  2. Squirting lady fyre türkçe altyazılı izle xxx
    clips and lady fyre türkçe altyazılı izle full movies in high quality.
    Search. squirt porn; Latest; Top Rated; Videos for: lady fyre türkçe altyazılı izle Most Relevant.
    Latest; Most Viewed; Top Rated; Longest; Most Commented;
    Most Favorited; HD. Sexy Squirt Lady 5:35.

  3. Lesbian Bosalma movies. page 1 of 10 videos. sekreter tayt lesbian shemale bosalma lezbiyen bosalma anne sex öğretme külotlu çorap ofis fişkırtma shemale göte boşalma ikizler
    czech fransız fisting sigaratte üvey kız sex öğretmek
    fransa lesbian anne izlemek travesti japon anne sex öğretmek travesti lezbiyen buyuk dildo yaşlı lezbiyen porno lezbiyen shemale mom.

  4. จำเป็นที่จะต้องรับสารภาพว่าคาสิโนออนไลน์ เป็นวิธีทางการพนันที่ทั้งสะดวกแล้วก็ปลอดภัย UFABET ที่ได้รับการยอมรับมากมายก่ายกองจากสาวกพนันออนไลน์ว่าจ่ายจริงจ่ายเต็ม ทำเงินได้จริง ที่สุดของเว็บคาสิโนออนไลน์จำเป็นจะต้อง UFABET

  5. You said this exceptionally well.how to write an application essay homework now writing services nyc

  6. An intriguing discussion is worth comment. I do believe that you need to publish more on this subject matter, it might not be a taboo subject but usually folks don’t talk about such issues. To the next! Many thanks!!

  7. معنی کراش چیست؟ کراش یعنی چی؟
    به عبارت دیگر عاشق معشوقی بشویم که آن معشوق از عشق ما به او اطلاعی
    ندارد. در زبان فارسی ممکن است به‌جای کراش داشتن از
    کراش زدن استفاده شود که معنی کراش داشتن با افراد متعدد را دارد
    و از توییتر آمده است. کراش داشتن باعث می‌شود وقتی شخص در حضور کراشش قرار
    می‌گیرد، رفتارش تغییر کند، اما سعی در پنهان کردن
    آن از فرد مورد نظر داشته باشد؛ با این حال تمایل بسیار به اعلام وجود
    و جلب توجه کراش خود دارد.
    کراش داشتن یکی از اصطلاحاتی است که به تازگی زیاد مورد استفاده قرار می گیرد .

    همینک در مجله آنلاین فارسی ها با عنوانکراش داشتن یعنی چه در خدمت
    شما کاربران گرامی هستیم .
    مهم است که به یاد داشته باشید که همه احساسات قوی عاشقانه نیستند، برخی از آنها می
    توانند پاک و بی‌ ریا نیز باشند.
    برای بررسی عملکرد فعالیت و امتیازات خود باید در وب سایت وارد باشید.
    در صورت عضویت از بخش بالای صفحه وارد شوید، در غیر این صورت از دکمه پایین،
    مستقیم به صفحه ثبت نام وارد شوید.

    معمولا این نوع دوست داشتن به
    نوعی است که به فرد ابراز نمی شود و در دل
    باقی می ماند .
    اما وقتی می‌گوییم Crush on someone و از آن به
    عنوان اسم استفاده می‌کنیم، منظور به کل عوض می‌شود و
    به بیان یک علاقه پنهانی یا نا فرجام اشاره دارد.
    مثلا افراد حتی بدون اینکه با فرد مورد نظر وارد رابطه شوند، دچار شکست عشقی می شوند و حال روحیشان خراب می شود.
    کراش داشتن باعث می شود وقتی شخص در حضور کراشش قرار
    می گیرد، رفتارش تغییر کند ولی سعی در پنهان کردن احساساتش از فرد مورد نظر داشته باشد.
    شاید به همین دلیل است که افرادی که بسیار معقول
    و موجه می باشند، در مقابل شخص جذاب، بی
    وقار و ناپسند جلوه می کنند.

  8. I’d like to thank you for the efforts you have put in writing this blog. I’m hoping to check out the same high-grade content by you in the future as well. In fact, your creative writing abilities has encouraged me to get my very own blog now 😉

  9. I need to to thank you for this excellent read!! I absolutely enjoyed every bit of it. I have you saved as a favorite to check out new stuff you postÖ

  10. I blog quite often and I seriously thank you for your information. This article has really peaked my interest. I am going to bookmark your blog and keep checking for new information about once a week. I opted in for your Feed too.

  11. There’s definately a great deal to learn about this topic.I like all of the points you made.

  12. Merci pour les grands post . Je étais déjà recherche ce chose pour un jour. Les objets et caractéristiques que vous précisez, je n’étais pas au courant . Je serai suivant votre site maintenant et J’espère vous ferez extra Idées et idées.

  13. Hi , I do believe this is an excellent blog. I stumbled upon it on Yahoo , i will come back once again. Money and freedom is the best way to change, may you be rich and help other people.

  14. Heya i’m for the first time here. I came across this board and I in finding It truly helpful & it helped me out much.I hope to give something again and aid others such as you aided me.Feel free to surf to my blog post … 918kaya slot

  15. I really appreciate this post. I have been looking all overfor this! Thank goodness I found it on Bing. You’ve made my day!Thanks again!Also visit my blog post: Yec Keto Pills

  16. Agustin Carsten Implores: "Stop Trying to Create Money!" – The Blockchain Land

    Hello Moderator!

    мега сайт даркнет ссылка

    Переходи на Mega! Здесь https://xn--mea-ysa.com на самом отличном и авторитетном сайте подпольного интернета тебя ожидает желанный и свежий товар, любезно предоставленный продавцами. Позволь себе забыть про трудности и заботы сегодняшнего дня, а также отвлекись и поправь ненадлежащее настроение. Присоединяйся к новойновейшей перспективной платформе! Позиции находяться в шаговой доступности практически в любом населенном пункте нашей страны, не упускай возможность шанс побавловать себя, поднять настроение себе и своим друзьям!

    [url=https://xn--mea-ysa.com]мега даркнет[/url]

  17. Please let me know if you’re looking for a article writer for your blog.
    You have some really great posts and I feel I would be a good asset.
    If you ever want to take some of the load off, I’d really
    like to write some material for your blog in exchange
    for a link back to mine. Please shoot me an e-mail if interested.
    Thank you!

  18. You could certainly see your expertise in the work you write. The world hopes for even more passionate writers like you who are not afraid to say how they believe. Always go after your heart.

  19. Excellent way of describing, and fastidious piece of writing totake data concerning my presentation subject, which i am going to convey in college.

  20. I don’t even know how I ended up here, but I thought this post was good.I do not know who you are but certainly you’re going to a famous blogger if youare not already 😉 Cheers!

  21. จริงๆเล่นมาหลายเว็บเลยจ้ะขอรับ ส่วนใหญ่ก็จ่ายจริงครับ แต่ที่ต่างเป็นบางเว็บไซต์เวลาฝาก-ถอนจำเป็นที่จะต้องผ่านตัวแทนครับ จำเป็นที่จะต้องแคปจอส่งให้บุคลากร ผมว่าป่วยไข้เลย มี UFABET นี่แหละครับ ผมว่าระบบดีสุดเลย ฝากถอนอัตโนมัติทำเองได้เลยขอรับ

  22. I just like the helpful information you supply for your articles.I’ll bookmark your blog and take a look at again here frequently.I’m somewhat sure I’ll be told many new stuff right right here!Good luck for the following!

  23. I am now not sure where you are getting your information, however goodtopic. I must spend a while finding out much moreor working out more. Thank you for magnificent info I used to be looking for this information for my mission.

  24. It is appropriate time to make some plans for the future
    and it’s time to be happy. I have read this post and if I could I
    wish to suggest you few interesting things or suggestions.
    Maybe you could write next articles referring to this article.

    I desire to read even more things about it!

  25. Normally I do not learn article on blogs, but I would liketo say that this write-up very pressured me to try and do so!Your writing style has been surprissd me. Thanks, quite nice post.

  26. Do you have a spam problem on this blog; I also am a blogger, and I was wondering your situation; we have developed some nice practices and we are looking to swap methods with other folks, please shoot me an e-mail if interested.

  27. Pretty section of content. I just stumbled upon your website and in accession capital to assert that I get in fact enjoyed account your blog posts. Anyway I will be subscribing to your feeds and even I achievement you access consistently fast.

  28. Heya i’m for the first time here. I came across this board andI find It truly useful & it helped me out much. I hope to give something back and help others like you aided me.

  29. I am not sure where you’re getting your info, but great topic.I needs to spend some time learning more or understanding more.Thanks for excellent information I was looking for this information formy mission.

  30. Thanks for the auspicious writeup. It in truth used to be a leisure account it. Glance advanced to more introduced agreeable from you! By the way, how can we keep up a correspondence?

  31. On the internet casinos offer a range of slots you can enjoy if you are a follower of playing. There are several on-line casinos, yet it is important to choose the right one for you.

  32. I’m not positive where you’re getting your info, however great topic.I needs to spend some time studying much more or working out more.Thanks for great info I was on the lookout for thisinfo for my mission.

  33. Ich bin beeindruckt, I need to sagen. Eigentlich fast nie treffe ich auf einen Weblog, der jeweils lehrreich und unterhaltsam ist, und lass mich dich wissen lassen, du wirst haben den Nagel auf den Kopf getroffen. Ihre Konzept ist herausragend; die Schwierigkeit ist eine Sache, über die nicht genügend Personen sind sprechen intelligent darüber. ich bin sehr zufrieden, dass ich bei meiner Suche nach einer Sache in Bezug auf darüber über gestolpert bin.

  34. Great beat ! I would like to apprentice while you amend your site, how could i subscribe for a blog site? The account aided me a acceptable deal. I had been a little bit acquainted of this your broadcast offered bright clear idea

  35. I want to to thank you for this great read!! I definitely loved every little bit of it. I have you saved as a favorite to look at new things you post…

  36. Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You obviously know what youre talking about, why waste your intelligence on just posting videos to your site when you could be giving us something enlightening to read?

  37. Hi there, just became aware of your blog through Google, and found that it is really informative. I’m gonna watch out for brussels. I will appreciate if you continue this in future. Numerous people will be benefited from your writing. Cheers!

  38. Looking at this article, I miss the time when I didn’t wear a mask. bitcoincasino Hopefully this corona will end soon. My blog is a blog that mainly posts pictures of daily life before Corona and landscapes at that time. If you want to remember that time again, please visit us.

  39. Hello my loved one! I want to say that this post is amazing, great written and come with almostall significant infos. I’d like to see moreposts like this .

  40. I am really impressed with your writing skills and also with the layout on your blog. Is this a paid theme or did you customize it yourself? Either way keep up the excellent quality writing, it’s rare to see a great blog like this one today..

  41. 3 tages antibiotikum azithromycin – z pack over the counter z pack for tooth infection

  42. Nice read, I just passed this onto a friend who was doing a little research on that. And he just bought me lunch as I found it for him smile Thus let me rephrase that: Thanks for lunch! “Love is made in heaven and consummated on earth.” by John Lyly.

  43. Nice read, I just passed this onto a friend who was doing some research on that. And he just bought me lunch because I found it for him smile Thus let me rephrase that: Thanks for lunch!

  44. You definitely ought to look at at least two minutes when you happen to be brushing your enamel.

  45. Do you mind if I quote a couple of your posts as long as I provide credit and sources back to your webpage? My website is in the very same area of interest as yours and my visitors would genuinely benefit from a lot of the information you present here. Please let me know if this okay with you. Thank you!

  46. I haven’t checked in here for some time since I thought it was getting boring, but the last few posts are good quality so I guess I’ll add you back to my daily bloglist. You deserve it my friend 🙂

  47. I am really impressed together with your writing abilities and also with the format for your blog. Is this a paid theme or did you modify it yourself? Anyway keep up the excellent high quality writing, it is rare to see a nice weblog like this one these days..

  48. Oh my goodness! Impressive article dude! Many thanks, However I am encountering issues with your RSS.I don’t know why I can’t join it. Is there anyoneelse having the same RSS issues? Anybody who knows the solution can you kindly respond?Thanks!!

  49. Hi, just required you to know I he added your site to my Google bookmarks due to your layout. But seriously, I believe your internet site has 1 in the freshest theme I??ve came across. It extremely helps make reading your blog significantly easier.

  50. Ich habe Ihr Blog Website bei Google entdeckt und einige von Ihnen überprüfen frühe Beiträge. Fortfahren um die sehr gute Arbeitsweise aufrechtzuerhalten. Ich habe Ihren RSS-Feed nur zusätzlich in meinem MSN News Reader hochgeladen. Suche nach vorwärts zum lesen extra von Ihnen in einer Weile!…

  51. I just couldn’t depart your site before suggesting that I extremely loved the standard info an individual supply in your guests? Is gonna be back often in order to investigate cross-check new posts

  52. poker cards- World’s Top Online Casinos, new user welfare register bonus 66₱, daily Betting Rebate 2. fast withdraw, good bonus, variety of games, World brand is trustworthy. Slot games, Card games , Live Casino, Animals(Cockfight games), fishing.

  53. I have not checked in here for a while because I thought it was getting boring, but the last few posts are good quality so I guess I’ll add you back to my everyday bloglist. You deserve it my friend 🙂

  54. hello!,I really like your writing very a lot! percentage we be in contact extra about your post on AOL? I need a specialist in this space to resolve my problem. May be that’s you! Taking a look forward to peer you.

  55. Good blog you have got here.. Itís hard to find quality writing like yours nowadays. I seriously appreciate individuals like you! Take care!!

  56. I?¦m no longer positive where you are getting your information, however good topic. I must spend a while learning much more or figuring out more. Thanks for fantastic info I was in search of this info for my mission.

  57. Hi, Neat post. There’s a problem along with your website in web
    explorer, may test this? IE still is the market chief and a
    good portion of people will leave out your
    fantastic writing due to this problem.

  58. pxbet- World’s Top Online Casinos, new user welfare register bonus 66₱, daily Betting Rebate 2. fast withdraw, good bonus, variety of games, World brand is trustworthy. Slot games, Card games , Live Casino, Animals(Cockfight games), fishing.

  59. Good blog you have got here.. It’s hard to find excellent writing like yours nowadays. I honestly appreciate individuals like you! Take care!!

  60. Hi there just wanted to give you a quick heads up. The words in your article seem to be running off the screen in Firefox. I’m not sure if this is a formatting issue or something to do with web browser compatibility but I figured I’d post to let you know. The style and design look great though! Hope you get the issue fixed soon. Cheers|

  61. Once I originally commented I clicked the -Notify me when new comments are added- checkbox and now each time a remark is added I get 4 emails with the same comment. Is there any way you possibly can take away me from that service? Thanks!

  62. I truly appreciate this post. I?¦ve been looking everywhere for this! Thank goodness I found it on Bing. You’ve made my day! Thx again

  63. Hello! Do you know if they make any plugins to assist with Search EngineOptimization? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very goodsuccess. If you know of any please share. Many thanks!

  64. poker game- World’s Top Online Casinos, new user welfare register bonus 66₱, daily Betting Rebate 2. fast withdraw, good bonus, variety of games, World brand is trustworthy. Slot games, Card games , Live Casino, Animals(Cockfight games), fishing.

  65. phbet- World’s Top Online Casinos, new user welfare register bonus 66₱, daily Betting Rebate 2. fast withdraw, good bonus, variety of games, World brand is trustworthy. Slot games, Card games , Live Casino, Animals(Cockfight games), fishing.

  66. Awesome! Its actually awesome pierce of writing, I have got much clear idea concerning from this piece of writing.

  67. Everyone loves what you guys tend to be up too. This sort of clever work and coverage! Keep up the wonderful works guys I’ve incorporated you guys to blogroll.

  68. It’s actually a nice and helpful piece of info. I am happy that you simply shared this useful information with us. Please keep us informed like this. Thank you for sharing.|

  69. slot vip- World’s Top Online Casinos, new user welfare register bonus 66₱, daily Betting Rebate 2. fast withdraw, good bonus, variety of games, World brand is trustworthy. Slot games, Card games , Live Casino, Animals(Cockfight games), fishing.

  70. This web page is known as a walk-via for all the information you needed about this and didn’t know who to ask. Glimpse right here, and you’ll undoubtedly uncover it.

  71. Hello! This is my first visit to your blog! We are a collection of volunteers and starting a new project in a community in the same niche. Your blog provided us beneficial information to work on. You have done a marvellous job!

  72. Hello there! I could have sworn I’ve visited this website before but after going through a few of the articles I realized it’s new to me. Nonetheless, I’m certainly delighted I came across it and I’ll be book-marking it and checking back regularly.

  73. online casino games- World’s Top Online Casinos, new user welfare register bonus 66₱, daily Betting Rebate 2. fast withdraw, good bonus, variety of games, World brand is trustworthy. Slot games, Card games , Live Casino, Animals(Cockfight games), fishing.

  74. Usually I don’t learn article on blogs, but I would like to say that this write-up very pressured me to take a look at and do it! Your writing style has been surprised me. Thanks, very great article.|

Leave a Reply

Your email address will not be published.

Close