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Problems BullionBlock Protects Against & Solves

Banking is Broken. The global monetary system is on the verge of total collapse.

The current centralized system of banking and financial services operate on the foundations of old and outdated technology, that is slow, unreliable, expensive, prone to cyber-crime, lacks privacy for the customer and does not process transactions in real-time.

All the efforts by the Central (Federal) Banks to head off a global recession with more QE and historic low interest rates will ultimately prove disastrous, and cause the debasement of money.

The intertwining of previously separate capital markets and money markets has produced a system with new dynamics as well as new vulnerabilities and risks.

The 2008 global financial crisis (GFC) revealed those risks and vulnerabilities for all to see. The result was two years of desperate action by central banking authorities as they tried this, and then that, to stem the collapse of the financial and banking system.

What is absolutely central to the crisis was the operation of key derivative contracts, most importantly credit default swaps and foreign exchange swaps.

This places banks, in both capital markets and money markets, at the very center of the picture, as profit-seeking suppliers of market liquidity to the new system of market-based credit.

The former USA Federal Reserve Bank Chairman Alan Greenspan noted in his famous essay from Gold and Economic Freedom – “In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.”

At the root of all financial bubbles, scams and scandals is the self-proclaimed “professionalism” of the bankers in the financial sector – is what Nobel Prize-winning economist Freidrick von Hayek referred to as “the pretence of knowledge”.

Steven Chu, a Nobel Prize-winning physicist and former U.S. secretary of Energy, said – “Two schemes come to mind that explain how the world economy system works. One is the pyramid scheme. The other is the Ponzi scheme.”

During Davos January 2020, Kristalina Georgieva the new head of the International Monetary Fund said – “the current global economic system risks a return of the 1930s Great Depression.”

How much longer can governments and banks continue with failed policies?

The level of debt is now over $200 trillion globally,
in other words three times the size of the global economy.

But here is the real question that needs to be answered:
“Who is going to pay all the debt?”

 Currently 40% of low-income countries are in ‘debt distress’ and many more are at high risk of falling into that category in the near future.

Public debt in all advanced economies is the highest as a proportion of GDP it has been since World War II.

The global economy is on life-support running on credit.

Nearly all nations economies around the world are having growth forecasts cut.

The warning bells have begun of the next global crisis expected around mid 2020, with forecasts to be worse than the 1930s Great Depression.

According to the latest Global Banking Annual Review (Oct 2019), The last pit stop?‘ published by McKinsey Consulting, the new survey found that more than half of the world’s banks are too weak to survive the next recession and calls for urgent action before the next down-turn in the global economy. The consulting firm said in this latest global banking review that more than a decade after the 2008 financial crisis, banks still have not regained the profitability they enjoyed in 2007. Furthermore, over 60% of banks worldwide don’t generate their cost of equity.

Today’s financial system is attacking your money and wealth.

Our Mission is to Democratize Banking

The BullionBlock All-In-One Next-Generation FinTech Wallet Messenger App Democratizes Access To The Future Of Digital Financial Services For Everyone Worldwide.

The Benefits of BULLIONBLOCK

How Does BullionBlock Work?