Steve Keen (QE Secrets Revealed, Debt Jubilee, Housing Bubble Creating Economic House Of Cards)

“My hassle for Bitcoin is that it’s not money and money is used for transactions and in Bitcoins one of its many what I see as design flaws are that it takes about 10 minutes to do the nonce calculation and the number of transactions is about less than 10 per second globally I think that they’re down at about the three-level right now and because it's appreciating you’d be a fool to use it to go shopping. So consequently it’s being used as a mean a store of value no doubt, no argument, there a very volatile one but It’s not being used as a transaction so until it’s used for transactions and on a monumental scale as well it’s not money.” Steve Keen, a Rebel Economist. To learn more about his opinion and views on the topics listed below click this link to watch the full video.

Here are the highlights of the video:

  • Neoclassical Economics
  • Theory of the second-best
  • Echo Chambers
  • What is money creation?
  • Result of Quantitative Easing (QE)?
  • Deficit Spending
  • Pros and Cons of Bitcoin
  • Private Sector Debt Jubilee
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