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Topic: Inflation soaring in US and other countries gives good prospect to bitcoin - page 3. (Read 344 times)

legendary
Activity: 1372
Merit: 2017
I'll take a look at that video, but I have to say....it's made by Mike Maloney of GoldSilver (external link there), who's trying to sell you gold and silver.  And what do those folks always say?  Well, just look at all the articles linked to on coinflation.com.  They all basically say the same thing, and they're the same articles from 1, 3, 5, 10 years ago, just rewritten over and over. 

Yes, but the problem for the last year and a half is the acceleration in money printing, which is what is reflected in the graph shared by Hydrogen. Even the rise of the S&P 500 over the last 18 months has a lot to do with the massive printing of money, apart from corporate profits. If you look at a graph of countries with hyperinflation such as Venezuela or Zimbabwe, you will see that the stock market rises by a huge amount but this is due to the devaluation of the currency and that the devalued currency has to be put into assets to protect the value, and not to the evolution of the business and the profit of the companies.

legendary
Activity: 3458
Merit: 6948
Top Crypto Casino
https://www.youtube.com/watch?v=xGkpzt49aP4
Behind the Fed's Curtain, Something BIG is Brewing.
I'll take a look at that video, but I have to say....it's made by Mike Maloney of GoldSilver (external link there), who's trying to sell you gold and silver.  And what do those folks always say?  Well, just look at all the articles linked to on coinflation.com.  They all basically say the same thing, and they're the same articles from 1, 3, 5, 10 years ago, just rewritten over and over.  The economy is in trouble; the dollar is backed by nothing; where's all the gold in the Fed's vault?; silver is going to $100/Oz., etc., etc.

So take that with a mountain of NaCl.

I guess this is what a Joe Biden economy looks like.
I am no fan of Biden, but he didn't start this mess.  Not that he's doing a damn thing to help it, but the problem was there well before he was even a presidential candidate. 

And yeah, inflation is ramping up and I'm afraid of where it's headed.  Hopefully wages keep pace with it, and hopefully the USD doesn't hyperinflate.  That's a lot of hope there.
legendary
Activity: 2562
Merit: 1441
https://www.youtube.com/watch?v=xGkpzt49aP4
Behind the Fed's Curtain, Something BIG is Brewing.

There's a crazy chart I saw in the background of that youtube clip that shows the extraordinary degree to which the US money supply is being inflated post 2020.



I guess this is what a Joe Biden economy looks like.
legendary
Activity: 2310
Merit: 1598
Do not die for Putin
I was aware that after all the money printing and giveaways during the COVID was just delaying the payment of the crisis ´till a moment in which the economy could possibly take better care of it. However, it was certain that the true cost of the crisis was not being paid. But here is the bill: Soaring inflation, happily accepted by governments in Europe and mainly in US: 5% YoY in August.

This is bad news for most, however it is good news for bitcoin that benefits from inflation and loose financial policies. Keep hodling!
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