Teh Collapse of Antiquated Society, pt. 1
Earth from space, NASA

Teh Collapse of Antiquated Society, pt. 1

By cMasta | pmcmasta | 10 Oct 2020


I've been psyching myself up for my first $1000+ investment for about a week now, and it's looking now like the time is nigh.

However much cash the Federal Reserve recently minted, we know that it is significant relative to the amount of money that was in circulation pre-2020.

We're now starting to see it.

Back in 2017, I expected I might be writing this way about the Qi 氣 or biochemistry or the Dao 道 (it's not Tao guys) or something other than money, but alas, here we are in 2020 and I am writing about money. I mean it could be something dumb like designer accessories or celebrities, so okay.

Has anyone else noticed that "I get it" has kind of become the 2020 motto?

But yeah, if big corporations don't start spedning instead of hoadring, the US financial system might have something like an artificial halving. And the rest of the world isn't doing that great either.

In September of last year (2019), the Fed reports that the total USD supply was hovering just above 3.2 trillion(T). It reached 5.15T in May of 2020 and was receding to the 4.8T area as of early September. An investopedia article suggests that, in addition to printing new money, the Fed has also been imagining currency into bank accounts.

Additionally, no one in the US has legally been able to exchange banknotes for gold at the 'reserve' since 1971.

See, check this out:

lol not anymore

It's only worth $60, guys. Maybe less if you're not a collector. Or more if you talk to the noob teller, I guess.

Maybe you knew that already but I didn't.

So yeah, that creation event happened pretty quickly. The USD probably won't collapse, but it's not on track to thrive either. Hopefully the wizards at the reserve are at least as smart as blockchain programmers.

Since the USD is the currency most frequently linked to the BTC, the weakening of one appears to be a strengthening of the other. And it is, but we must remember also that no one has ever been able to trade Bitcoin for gold outside of maybe a trendy jewelry shop.

However it is really convenient to be able to pay for anything with that computer in your pocket that you've been irradiating yourself with every day already anyway. Trust me, I have lived in China where this future is already realized.

So the Bitcoin is rising. I'm past my novice investor anxiety to buy in RIGHT NOW, but it's rising. Maybe I'm wrong, but it's okay.

We all knew that, I guess. I won't waste any more of your time or my own then.


cMasta
cMasta

Science enthusiast, semi-smart person, amateur musician, human father, plant father


pmcmasta
pmcmasta

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