|I'm sure many of you follow the news coming from France, where for the past several weeks the so called ...|
... "yellow vests" are protesting against their ruling party. I found those events very fascinating and important but at the same time I'm staying away from making any judgements or sharing my own opinion.
Generally I'm doing my best not to talk or write about politics, religion and migration as I see those topic as very sensitive. And this is not going to be a political post and my wish is to avoid publishing any sensitive comments in our discussion today.
What I would like to focus on is quite straight forward: how events that are currently unfolding in france can affect the global financial system and attract more interests of regular people towards crypto?
TOMORROW A NEW ERA BEGINS
|Personally, Im highly impressed with the level of creativity of all those communities in france, which are involved in the yellow vest protest.|
The new idea shocked me as something so very simple and yet ... noone ever thought about it.
Please allow me to quote www.rt.com:
Yellow Vest protesters are hoping to trigger a bank run with a nationwide coordinated cash withdrawal. By threatening the French financial system, protesters say, they want to peacefully force the government to pass their reforms.
I hope I'm not acting like an excited teenager, but I do believe that this movement and this particular action is able open "doors" which we never tried to open before. That can put tremendous amount of pressure which may result with heavy financial consequences. And my question is: who would pay all those consequences at the end of this turmoil?
WHAT MAY HAPPEN NEXT?
So what may happen tomorrow? In simple words: banks do not have enough reserves to provide customers enough with money when many people are trying to withdraw at the same time. They may introduce limits and find ways to deal with the problem, but that would most likely escalate the current tension to another level. And could potentially bring the french banking system to it's knees. Or perhaps Im wrong and we should also consider different scenarios?
I'm wondering what are the possible consequences for everyone involved. General population, current goverment and french banks. And can in your opinion this turmoil affect the EURO currency? I would love to know what you guys think.
HOW CAN THIS AFFECT CRYPTO?
Perhaps Im too optimistic, but I do believe that this event will benefit crypto greately. Not with the huge amount of people moving their wealth from traditional banking system to crypto. That will most likely not happen right away.
I forsee that more people will start being aware of the current financial problems and threats. Micro and macro scale. And we need it in order to bring mass adoption to masses. We need them the be willing to look for alternatives and learn about their options.
SHARE YOUR VIEW WITH ME
I wonder how many of you do follow those protests and can remotely predict how things can play out tomorrow.
And guys, PLEASE REMEMBER: no direct political comments. Im sure we all don't want some of our opinions to be on blockchain forever. Completly public. So share with me your opinion on mentioned issue with that in mind.
Link to full article: https://www.rt.com/news/448426-yellow-vests-financial-bank-protest/