US Government printed more money in 30 days than over 200 years

in LeoFinance7 days ago

“With that first trillion we defeated British imperialists, bought Alaska and the Louisiana Purchase, defeated fascism, ended the Great Depression, built the Interstate Highway System, and went to the Moon.”
Dan Morehead - CEO Pantera Capital

According to the CEO of Pantera Capital, the US Government has printed more money in June than the last 200 years of US history from 1776 to 1979. Morehead goes on and suggests people get into Bitcoin to protect against the growing US inflation.

"Stay long crypto until schools/daycare open. Until then the economy won't function and money will be continuously printed."
Dan Morehead - CEO Pantera Capital

This was Dan Morehead's suggested investment strategy for surviving this crisis.

While this looks really bad for the US economy, it is welcoming news for crypto hodlers. More and more Americans are looking to crypto similar to how Venezuelans did with the Bolívar. While not as extreme, it is certainly concerning to see this much money printed during the pandemic.

Seeing some big names like the CEO of Pantera Capital suggest more people buy into Bitcoin will hopefully raise awareness and adoption of Bitcoin and other cryptocurrencies. Will anyone listen? is the question.

Have you been purchasing crypto to help protect yourself from fiat inflation?


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Have you been purchasing crypto to help protect yourself from fiat inflation?

Yes, but not on a regular schedule I'm afraid. Things are often so tight I have trouble keeping an emergency savings, and the pandemic hasn't helped.

Crypto has helped, though. Hive's long power down and the 1 week+ it takes to transfer $ from an exchange to my bank are enough to discourage me from raiding these investments when I'm broke. Little buy-ins here and there definitely add up.

"... and the pandemic hasn't helped."

No, it has been destructive beyond our comprehension IMHO. To what end? We're only in the early stages of finding out ...


P.S. Thank you for the cross-post ...

What's worse is that they don't have even have to, "print" it anymore, where at least the ink, fiber and press capacity would have an impact on the rate of issuance. Now its just a few keys punched on a FED computer and billion or trillions of dollars can be created out of thin air.

For me the easy is answer is not only crypto, but silver and gold. Stock up on things that the government can't create and devalue!

For me the easy is answer is not only crypto, but silver and gold. Stock up on things that the government can't create and devalue!

But most importantly things that can not be easily taken away by said gov.

I need to get back into the $10 Tuesday routine. Buying $10 of Bitcoin (or more) every Tuesday using the local BTC ATM. You know doing a little bit to keep that ATM... despite the damn fees.

They just keep printing that money to keep things afloat... How long will that last?? How much debt can you incur before you are bankrupt??? I guess the US will show us in due time. Lol.

You are correct, we all need to keep acquiring BTC (And Hive!) because this will not end well for average people. Printing or actually issuing debt notes at unsustainable level has never proven to be successful. One thing this time is a little different, with the federal reserve in the US buying corp debt, ETF and equidities in companies, they may become the largest "holding company" the world has know. And many of the companies are not US. Could this be a hostile takeover?

I started using some of the crypto investing platforms about a year ago. So I am earning 4% on one and 6.5% on another. The interest is paid weekly in BTC, so this is like dollar cost averaging in.

If only crypto offered privacy and decentralization. Until it can do that, it's just heavily tracked digital currency that plays right into the technocrats hands. Bitcoin, for example. There's no way to use it without giving up your privacy, and/or using centralized government or banking systems. Until crypto is private and decentralized, no, I'm not investing anything into it. My savings is in cash and bullion. If I can get into crypto privately and without using smart devices, banks, or government services, I'll go heavily into crypto, as will many others.

I don't know what effect this latest Fed fuckery will have, but it won't be good in the long term. Best case scenario: inflated stock market and real estate prices are maintained while everyone suffers relatively low price inflation. But that's not likely when the economy is also suffering lower production and trade due to COVID-19. More dollars chasing fewer goods and services is a recipe for potential disaster. The real result will probably be somewhere on between.

Every time I read stuff like this it takes me right back to A-level Economics - I never really understood how governments can get away with printing so much money in times of crises, I get it even less now.

At some point the system just has to collapse.

Or perhaps it already has for many people?!?

Will anyone listen? is the question.

Nope.

Crypto is still wayyy too hard for the mainstream.

Have you been purchasing crypto to help protect yourself from fiat inflation?

Being in a relatively stable economy such as Aus (US would be the same), I don’t personally think I have to get my money out of AUD because it’s value could half overnight. This could be different in less developed, more authoritarian countries, but not here.

I purchase crypto as a personal choice to try and be a part of a grass roots driven financial system that allows me to have more control over my own direction and money.

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Seeing some big names like the CEO of Pantera Capital suggest more people buy into Bitcoin will hopefully raise awareness and adoption of Bitcoin and other cryptocurrencies. Will anyone listen? is the question.

Pantera Capital is an investment firm focused exclusively on ventures, tokens, and projects related to blockchain tech, digital currency, and crypto assets.

https://www.panteracapital.com/

I'll argue the opposite. It would be rather unusual if the CEO of one of the biggest blockchain investment companies told people not to buy crypto.

That is big thing, and yes investing in bitcoin is will be worthy in near future.

In my country, more cash have been stolen than money been printed. They steel what they can, kill what they can and gets away with it

We are witnessing the collapse of the economic system before our eyes, because the people running our government have no clue what they are doing and do not understand how to properly run the economy.

Most people think that the purpose of government taxation is so the government can pay for stuff. There are two more important reasons why taxation has to exist in every economic system, to prevent high wealth inequality and to prevent hyper inflation.

The relentless search for more money will never end.

resteemed upvoted and yeah man, i love seeing ur post again, we need u and old steemians to just post on hive gain like old times let the network effect happen and use steemit incs HIVEDAO FUNDS , look at ideas from ourselves 3 years ago lol, its like were sending money to our past selves lol

"US Government printed more money in 30 days than over 200 years ..."

Yep and it is only just "warming up" for what is coming @themarkymark. Given the state of affairs, both here and around the world, given the "Almighty" State's responses to this pandemic, what is the alternative? And for this "aid," what will be required of us in return? ...

The proper response of "we the people?" It is very sobering reading the various answers ...