Stock Market Meltdown is a Symptom of a Larger Global Problem
Over 40% of the S&P is in a bear market, with further misery hitting the market this week, prolonging the agony during the worst month since the 2008 crisis.
The world is at a unique crossroads: humanity faces record levels of debt that only compounds further debt, gold is no longer respected, the middle class across the West is almost extinct, and the European Union is becoming an economic and political failure.
As the problems keep getting worse, history shows the 1% always escape the sinking ship while the rest are left jobless, broke, and at the mercy of limitless debt!
Without the proper education of how money works in most public schools, this cycle goes on generation after generation. This is not sustainable, and the bubble will eventually have to pop.
IMF Chairwoman Christine Lagarde believes the younger generations may not recover!
What goes up always comes down, and Bitcoin reminded us all of this earlier this year. The current economic system is overdue for a reset, and the 1% know it.
The question is where the smart money is fleeing to next and what will replace the old system.
Will Blockchain, A.I., and Quantum Computing Power a New Financial System?
Recent developments are proving to be interesting, and they tell us more if we read in between the lines. Since cryptocurrencies crashed in early 2018, governments, financial institutions, and lawmakers have accelerated their presence in the sector, with a direct interest in technology.
There are numerous examples of this happening, and there are too many to include in just one article. For example, investment powerhouse Fidelity is launching its own digital asset platform, while recently admitting to mining cryptocurrencies!
Intercontinental Exchange (ICE) and operator of the New York Stock Exchange also confirmed the launch of its cryptocurrency trading platform Bakkt, with plans to launch Bitcoin futures by the end of 2018.
Could we see tokenized securities representing shares in a company? Dividing a share into “bits” like we already have with cryptocurrencies, making them affordable to small investors…
Another technology already changing the world around us is artificial intelligence. We already use A.I. to manage our cyber security tasks, and experts believe the Singularity will happen in 2030-2040. Bringing self-aware technology into the financial arena could help institutions gather and manage data, refine marketing strategies, and monitor any behavior deemed “unsatisfactory” or “suspicious.”
Quantum computing is also attracting attention. In theory, the technology would redefine cryptography and cyber security as we know it, making traditional computers that run on a binary system (0 or 1) obsolete.
Barclays and JPMorgan have been experimenting with quantum technology developed by IBM after joining the Q Network, a 20-qubit quantum computing system.
The video below highlights the mergence of the three technologies mentioned.
The Long-Term Plan: A Global Network Connecting Digital Ecosystems!
In today’s post, we barely scratched the surface of these technologies and the overall economic meltdown we are heading into, but we can conclude that the current monetary system is mathematically unsustainable and its technology is proving obsolete in an age where its users demand instant results.
If we follow the money, we see a shift towards blockchain, A.I., and quantum computing. It’s already beginning and the possibilities are almost limitless, taking the Internet of Things beyond anything we have today!
A new economic system would have the capacity to act as a global interface, connecting various digital ecosystems together under one digital ledger. Each of the technologies discussed could overlap and enhance one another, working like clockwork and constantly learning with minimal human interference.
Who will be left behind when this inevitably emerges, and who will profit the greatest? This could make the Dotcom bubble look like a warm-up.
“If we have to go there, we will go there. But right now it (cryptocurrencies) is more of a commodity than a payment vehicle.” – VISA CEO Alfred Kelly on CNBC Mad Money