Bank of America CEO Brian Moynihan on Monday said the firm is preparing for the U.S. to default on its debt after surpassing its borrowing limit last month.
Lawmakers are locked in talks about whether to lift the debt ceiling, with Republicans insisting on spending cuts before a deal to raise the limit is struck, and economists are warning of financial crisis if a default does occur.
https://thehill.com/policy/finance/3845901-bank-of-america-ceo-preparing-for-us-debt-default/amp/
Join Slavyangrad chat. Your opinion matters. https://t.me/+PUg0rQrZdiw4YWFh
@Slavyangrad Join SLG 🔺 Intelligence Briefings, Strategy and Analysis, Expert Community
Which is run by who?
All centralized systems lead to corruption. We need a de-centralized system. Precious metals is the best solution and it has worked in the past.
Blockchain could be utilized in de-centralization, but existing cryptocurrencies do not work as money imho.
Bottom line: Money needs to be reliable, stable and convenient as a medium of exchange, a store of value and a unit of account.
One words. BRICS. Egypt joined the other day.