/biz/ - Business & Finance

>banks use computers to create fake balance sheets through fractional reserve lending
>banks protect each others' fake balance sheets by being trusted counter parties
>pretty soon fractional reserve becomes zero reserves
>get zero reserves required for banks passed as law
>central bank tries to cover the fake balance sheets by printing more fiat
>control the cycling of fiat by adjusting the inflation rate and hoping for the best
the fractional reserve system begins to unravel
>quick! invent a new way to pretend our zero reserve funny balance sheets are actually real
>cryptographically assured by the holy Talmud goy you can trust our balance sheets :^)
>Our reserves are now in cryptographically defined assets anon they are completely and utterly real
the blockchain cannot tell the difference between unbacked value vs real value
>the banks have no idea what's real and what's not anymore
>they just look at the fake numbers in the machine
>port the whole mess over to crypto
>numbers go up
>everyone involved is happy
>banks continue their zero reserve scams
>use crypto as a smoke screen
>only tech nerds complain but no one else listens
>most people made so much money they don't care anymore
>banks and crypto scammers seamlessly work together to defraud the public
Problem solved?