the final exam for Bitcoin approaches....MMT vs Austrian economics

the final exam for Bitcoin approaches....MMT vs Austrian economics


Modern Monetary Theory has now gone white hot supernova.  Those madcap guys at the Federal Reserve are now printing a self proclaimed "infinite" amount of money.  This froth of liquidity will pour through Fed cash window lines to other national reserve banks ( looking at you, EU!!!)  It will also transform the US,  dropping interest rates into bizarro negative land, quant easing and bond buybacking and small biz loaning sloshing around. There will be every type of loan or bailout to every type of industry imaginable, smearing money around like peanut butter. 

351665157-eff1892e54f5d5876c5e08a20a8d5f7332d867d480b916c9f55af56f40644a08.png

Bitcoin has now passed through all of the junior league trials and tribulations.  So many aspects of cryptocurrency have now reached the milestone of "shoulda killed me last year."   Death by code fault, legislation, single man failure, Bitcoin has now stood the test of time above any questions of resilience, survivability, and worst case usability.  

But there is one big test waiting for Bitcoin.  The question of the giant pump.  The concept that all countries eventually abuse their currencies is now being put to the real world test like never before from a consortium of first world powers in synchrony. 

Bitcoin has defied the old world financial guard ( too bad Warren Buffet missed out on investing in any of that "rat poison!" )   Bitcoin has been tested and hacked away at by the best hackers ever in the history of man.   And those hackers have made off with untold fortunes from those around Bitcoin, slowing the growth of Bitcoin itself but not even coming close to stopping it. 

351665157-291818586289485e7eb2ac9dc249f96155d95d2e2943db71f12f1ae8927f0ec6.png

 

Some say the rise of Bitcoin is inevitable, with HODLers digging in, the halvening, the steady drip of coins lost for any number of reasons, with millenialls entering the market, the inevitable hope of institutional money.  The steady spread of acceptance.  

But many others say there is a natural level for Bitcoin around 4-6K. They say Bitcoin lives at the mercy of bearish whales.  That bitcoin won't go away, it will just linger, a novelty asset, won't really go up.   And in fact, every time a scammer steals a few billion dollars (looking at you, Plus Token "we have run" boys and girl) - those billions turn into a whale wall playing whack a mole with the price graphs.

 

But this is what bitcoin was made for.  Born for.

351665157-85928d2c1ad6c1c7b54cf2f132510cfab2b1802e77ee10a00088cd9a173aa95a.png

all the printed money in the world is about to double in a month.  I used to joke that we are all Venezuela, but that crunchtime has come a lot sooner than we all thought.  Listen - do you hear that giant pumping noise!

Cryptofans we love ya!


Dave Sawyer
Dave Sawyer

National Merit got this punk rocker to Oberlin, and Wall Street fintech gave up world tours and an NYU MBA. I am a Bitcoin true believer. Bitcoin is deeply revolutionary in a way we always prayed tech would be. Keep the baby Faith!


Hi, I am Dave, and I just got hooked on crypto !
Hi, I am Dave, and I just got hooked on crypto !

After decades motorcycling in NYC to work on Fintech and play punk rock, I just woke up to Cryptocurrencies and fell in love like never before! Blogging for the hell of it while learning my way through this awesome, deeply revolutionary evolution in money. Join us while we laugh and flip off the central banks and their currency debasing governments! Stack sats to the Moon, Lambo, don't reck, FUD, FOMO, wild wild west, bless Satoshi!

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.