Is anything at all wrong with our economy

Our current economic system is not working and immediately needs intervention if we are to avoid an additional financial downturn. Take into consideration for example how derivatives have surged from $2 Trillion in 1990 to $601 in twenty ten. Or how the worldwide debt obligations has mushroomed from $142 Trillion to $199 Trillion over the similar time.

However, what's much more frightening, is that whilst I was doing this study, nowhere was I able to get present-day figures. Can it be that maybe these numbers have gone absolutely off the charts and we are being purposely kept in the dark?

Thankfully, it's actually not all doom and despair. In the midst of worsening financial markets, you can find a Monetary Renaissance under-way being headed by digital developments underpinning Bitcoin, the Blockchain in addition to Distributed ledger.

Presently Bitcoin has a value of approximately $4Bn and is being accepted around the globe by global multi-nationals for example, Amazon marketplace, PayPal, Bloomberg, Sears, Bing, Vrgin, Home Depot, Dell and many more.

However, in the event you thought this was merely merchants that were transitioning to the growing standing of Bitcoin, you can be forgiven but are unbelievably mistaken. Independent states, law makers, authorities, global finance institutions as well as venture capitalists are right in there. Take a look at for example the breakthroughs which all have taken place in just the second quarter of 2015.

And just today (5 Aug 2015), the Australian Senate Economics References Committee has released that they are in the process of changing their legislation to create Bitcoin transactions as identical to Fiat transactions as they can. You may even see http://www.rt.com/business/311572-australia-bitcoin-ruling-currency/

Bitcoin is to the world of economic transactions and consumer banking what peer-to-peer (P2P) file sharing meant to the music trade within the 1990's and also have the massive potential of massively transforming or disrupting the global financial and fiscal services business.

It successfully facilitates customers to put a financial institution in their pocket and basically carryout transactions on the P2P basis without ever having broker parties or currency conversion.

Aided by the advent of Bitcoin, original digital financial designs have started to appear, enabling money making of P2P exchanges in digital online marketplaces. At present, novel Fiscal Visions for future years are actually being considered by:

> AlterNet

> The Rise of the New Economy Association,

> Next System Plan,

> Currency Solutions for a smarter world,

> Community Exchange Organism

> Business Insights Group, see also myeconomy.org

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overall economy, financial, economic news, global economy, new economy, online money, bitcoin