Slightly off topic: what a lovely wee Christmas pump
But but Hairy said no more pumps this year .... surely not 24k
Hahahahaha
Thanks dude.... Glad to see some reminders of
overly assertive proclamations - especially when those proclamations happen to be against UP and they end up playing out as repeatedly WWWWWWrrrrrrrrrrooooooooooonnnnngggggggg.
another reason why we are winning:
the gov and central banks have over the last decades drank their own cool aid when manipulating the CPI in a way it never shows the real inflation. it is a basket of things one might need of stuff that gets cheaper and cheaper to produce. why did they try to make it look as if there is no inflation? obviously their mental framing was something like the french revolution, where bread got so expensive the regular folks started to starve and overthrew the feudal order.
they dont want the general public to see the real inflation. they were successful in finding a way to do this. too successful. the inflation they say does not occur while printing trillions of $ did not go into the CPI basket. it went into assets. valuable assets, scarce assets are getting expensive faster and faster. asset price inflation is here and it is real. central banks and gov thought it would be ok to let the rich "suffer" from asset price inflation since the rich aint gonna take pitchforks and protest/overthrow the order. that is a correct assumption. but what they did not see coming, what no one saw coming was that the rich are not stupid and will just sit there and get value stripped away from them. the rich have an alternative now and it is called bitcoin. they will opt out of fiat to keep their riches.
with preventing inflation for the plebs so successfully the gov and central banks created an incentive structure for the wealthy to leave the fiat game. and the wealthy will always find ways to get their cake and eat it, too.
the pitchforks are no danger. the fiat alternative is.
edited typos
Hm... I had not thought about it like that, in terms of moving some of the inflationary burden to the rich.. even though it is likely NOT a complete picture either because there has been inadequate investment levels in infrastructure and various things like that that rob from the overall population too and likely disproportionately affect the poor.. but still good angle to juxtapose in there, 600w.