BITCOINS TIME IS COMING
"The root problem with conventional currencies is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust." - Satoshi, Bitcoin Whitepaper
To debase means, in this case, to decrease the value. We all know how the value of the dollar has decreased over the years due to inflation. But what about recently?
This year during the COVID19 crisis (still ongoing) the US Government decided to print $4 Trillion dollars. Trillion.
Thats $4,000,000,000,000. A lot of zeros right?
If there are 4 trillion more dollars it makes the dollars you have worth less, right?
You would think that would be obvious to everyone ? Apparently not yet, as the value of BTC is still struggling to break $10,000 and the government is still in power. Until the ceremonial changing of the guard in November of course, for all the difference that makes.
One Person Has Sounded The Alarm
If you start to talk about the above with anyone in the crypto community, you will be met with a smile and agreement but if you mention any of it to a "normal person" they will probably politely nod, change the subject or walk away.
But yesterday, Stephen Roach, a senior fellow at Yale University and former Morgan Stanley Asia chairman, came out and sounded the alarm for the normal people. On CNBCs "Trading Nation" he warned that the USD was "going to fall very, very sharply”. He continued by saying the US economy “has been afflicted with some significant macro imbalances for a long time, namely a very low domestic savings rate and a chronic current account deficit” which will exacerbate the Dollars decline. He also said all of the problems the economy faces could cause "Stagflation" where prices locally sky rocket whilst economic growth is non existent... All of that sounds very very bad for anyone who gets paid in USD or uses it as their day to day currency.
So what do we do? We have to see this as the canary in the coalmine, the first warning of whats about to come but also hope that the "normal people", those most affected by whats coming , see it before it is too late
But what else?
Keep buying BTC,
Hodl
and tip the nice Publish0x posters ; )
