Haha love it that this meme is back.
I spoke to a friend who works at RBC today. She told me the consensus is to claim victory once CPI reaches <5%.
I asked her why, she told me because there was so much money printed last time, it’s extremely difficult to get CPI back to 2%.
So I guess it’s just as everyone was saying. Central banks will allow inflation to run hot just so that they can deal with the record levels of debt in the system.
Wait a minute… isn’t that the same thing as $1 million bitcoin.
It's my friend's daughter's first birthday tomorrow.
Instead of buying a toy for her, I have decided to give her $100 worth of sats.
I wonder how much it will be worth in dollar terms when she turns 18.
V for Vendetta
GM ☀️PV 🤙
With all the uncertainty in the world right now, the only certain thing is Bitcoin’s monetary policy.
I’m so glad that no matter what happens at the central banks, there is nothing they can do about Bitcoin’s protocol.
They can print as much money as they want, Bitcoin will always produce one block every ten minutes.
QE infinity for all I care.
Tick-tock next block.
What’s that good old saying?
You can’t taper a Ponzi.
https://twitter.com/lynaldencontact/status/1636470293068644358?s=46
With every new policy that comes out, the game get more rigged towards entities that are too big to fail.
They’re not even trying to conceal the fact that they’re rigging the system now.
We’re at the point where they’re basically saying, “What are you gonna do about it? What can you do about it?”
That’s a fair point.
Achieving lower inflation without blowing up the economy is the soft landing everyone is hoping for.
It’s a mighty fine line they’re walking here.
Let me get this straight…
1. Central banks are basically backstopping any entity that may cause systemic risk. But if you’re not big enough to cause systemic risk, you’re SOL.
2. Big banks who have ample access to capital due to their position are now stepping in to prop up the smaller banks.
3. The FED wants to cause unemployment, but they’re unwilling to have those unemployment come from large entities that are actually mismanaging their risk.
My question is, where is this unemployment going to come from?
It feels like in the end, small to medium businesses will continue to suffer as the FED continues to raise rates. But when they go down, no one will come to see he rescue because they’re not big enough to cause systemic risk.
Isn’t this the same as what happened in 2008? Too big to fail vs everyone else.
Testing out the image upload feature 😜
⚡️⚡️⚡️
Thanks for the free sats!
Working on it!
Good. Let all crypto burn. We’ll take a hit in the short run. Everything has its trade offs.
Stacked my first sats exactly three years ago. Back then, we were simply talking about how fucked up our financial system really is, and how central authorities will simply print money to get out of the hole that they have dug for themselves.
Three years ago, it was the infamous Covid liquidity crash. Today, three banks have failed in the US, and Bitcoin is stronger than ever.
What happened over this weekend only further strengthens my conviction.
Pathetic
I hope you don’t lose them in a boating accident 😜