The Federal Reserves have been known for too long for overprinting and overproduction of US dollars. Since US dollars are no longer backed up by gold the Federal Reserve have been printing money out of thin air and release it through the banks. The big problem is that nobody is watching and counting the number of US dollars being printed and as of now still nobody knows the exact amount of US dollars that being regulated in the states.
Thus for me its better to stick into cryptocurrency so that we will no longer be manipulated by those who have the power to print money from thin air. At least in cryptocurrency we will determine the amount of coins being circulated and we can monitor through the blockchain explorer while we cannot do that on the Federal Reserve.
Topic: Bitcoin is volatile but NY Fed just pumped $75 billion into market for calm? (Read 198 times)
October 17, 2019, 06:00:47 AM
September 19, 2019, 12:59:47 AM
This is exactly the reason why we need crypto in our lives. Governments can print money to the infinite. You'll have physically more dollars but they will worth less. This is the effect of inflation.
When Bitcoin will be adopted world wide on a larger scale, inflation problem will be fixed, as you cannot just print new Btc.
When Bitcoin will be adopted world wide on a larger scale, inflation problem will be fixed, as you cannot just print new Btc.
September 18, 2019, 12:19:57 PM
Yep, people panic because 1 Bitcoin = Dollars.
FED has no issues, since 1 Dollar = 1 Dollar.
And yeah, they dare to say that Bitcoin is made of thin air.
FED has no issues, since 1 Dollar = 1 Dollar.
And yeah, they dare to say that Bitcoin is made of thin air.
September 18, 2019, 11:48:21 AM
I understand your sarcasm! But repo auction is a method of pumping money into banking system. This kind of measures are usually taken when the economy is slowing down and banks face capital crunch. It is great that USA didn't have to use this method since 2008, because in many countries, repo auction happens yearly! And it is NOT marking money out of thin air.
But don't get disappointed about bitcoin because it is not something that fits in the scope of mainstream economy. Why government wants it to be regulated tightly, is a different story all together. Don't mess up these two different things!
But don't get disappointed about bitcoin because it is not something that fits in the scope of mainstream economy. Why government wants it to be regulated tightly, is a different story all together. Don't mess up these two different things!
September 18, 2019, 10:56:57 AM
For first time since 2008 The New York Fed made up to $75 billion available through a repo auction.
Here the Fed accepts Treasuries and other securities as collateral, and in exchange, provides cash.
The facility had not previously been used at such a scale since 2008.
Is this another flashing light of a financial crisis?
It seems these guys can print money out of thin air.
But they want to tightly regulate Bitcoin and crypto.
Government and big banks do not want competition in their money control.
article link: https://www.ft.com/content/2c11a972-d941-11e9-8f9b-77216ebe1f17
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