I never ever thought I would hear capitalist governments utter the words “non-essential workers and jobs”…reminded me of Animal Farm,…“All animals are equal, but some are more equal than others”…I just had an uncomfortable de javu from my High School literature study days.
So here is another interpretation dialog, I dreamed-up:
Economic Airways Captains : “MAY DAY! MAY DAY! Economic Engine Failure! You DELIBERATELY remotely stalled the Economic Engine! What the…!”
Control Tower: “We know, we had no choice. We thought it wouldn’t cause a stall. Bad luck! Guess, we’re going to remotely remove all throttles and flood the Economic Engine with fuel. That should fix it!”
Economic Airways Captains: “Fuel pumps working, but there is a built-in massive fuel diversion to unmonitored systems! What the…! We’re still headed for high impact and casualties !”
Control Tower: “Just keep pumping, pumping, pumping, just keep pumping the fuel! There is a massive Reserve Bank & Treasury fuel duel-carriage tanker just above you with unlimited fuel, just hook-up to the hose and syphon. Forget about the fuel diversion, we built it into the engine for such a time as this. If the Engine fails at least the diverted fuel can be used by those with designated parachutes and those who are more essential.”
Economic Airways Captains: “What about us?!”
Control Tower: “Everyone is replaceable, but some are more essential than others. Life must go on. A new day is coming, besides a new system is overdue. Now STAY FOCUSED on the emergency, that is what you are paid to do.”
Economic Airways Captains: “The Passengers are asking, “What about them?!!””
Control Tower: “They are just the excuse to pay for the fuel and the Economic Airways. There will always be passengers. I repeat everyone is replaceable, but some are more essential than others. Tell them to calm down so they don’t destabilise the Economic Aircraft during the emergency or prevent those with designated parachutes from existing if necessary.”
The human and financial impacts of government decisions on Cryptocurrencies movements
During this COVID-19 pandemic, Governments and their economic institutions are caught between a rock-and-a-hard place while considering the health and economic choices. The potential for a Lose-Lose scenario is very significant as they weigh up the duel risk of massive loss of human life on the one-hand and economic collapse or both.
The reality of the contrast between different countries responses to or lack of responses or even delayed responses cannot be more stark. What seemed even more amazing was the apparent false sense of security of developed countries in their ability to assess and effectively respond to the indiscriminate nature COVID-19.
With delays in delivery of funds to furloughed staff and to the suddenly unemployed millions, the enormous impact on peoples ability to meet their financial commitments as well as provide for themselves has caused an as yet to be quantified deep psychological trauma.
As people desperately look for ways to raise funds, already there has been a strong trend towards gambling, withdrawal of retirement funds, short-term trading in share markets creating additional volatility in the market. Then there is the move towards Cryptocurrencies.
The fortuitous Bitcoin halving event on the 12th May, 2020 will, very highly likely, trigger a surge in demand for all kinds cryptocurrencies. As people attempt to actively trade between currencies just like they are in the share markets.
The fact that cryptocurrency exchanges are trading 24/7 and they have a global unrestricted access, except where Governments have imposed restrictions, means there will be a far greater movement in the price of all cryptocurrencies than the dominant fiat financial markets expect. All the global community needs is a trigger generated by a significant movement in Bitcoin prices and the major Altcoins. As News and Social media raise global awareness of the profits being made on cryptocurrencies, there will be a surge in activity.