The numbers so far, with some context...
In response to the coronavirus pandemic, countries around the world have ramped up monetary and fiscal stimulus programs.
None more so than the United States.
The interesting thing is that the US has not only done the most in terms of total value, but also in terms of its own GDP, which is saying something considering the US had the worlds largest GDP previously.
Yep, the US is also leading the world in fiscal and monetary stimulus as a percentage of GDP.
Check it out:
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A trillion here, a trillion there, pretty soon we are talking about real money!
When you combine both the monetary and fiscal stimulus programs and compare them to total GDP it gets pretty interesting...
Combined they are accounting for roughly 35% of GDP.
For some context...
After the Great Depression, FDR launched the New Deal.
This was a series of programs that were designed to help pull the country out of the Great Depression.
As you can imagine, FDR threw a lot at the problem.
Well, guess what percentage of GDP the New Deal was said to have accounted for?
40%
Yes, that's right, we have already currently done what they did for the entire Great Depression Recovery program in just one month of Coronavirus stimulus!
Let that sink in for a moment...
When you start looking ahead and thinking about how much money and stimulus programs it is actually going to take to get the economy back to where it was previously, we are going to dwarf every other stimulus program in the history of mankind, by orders of magnitude.
That's pretty scary to think about, but only if you are holding dollars.
As long as you are holding hard assets, you will be ok.
My guess is that will also include bitcoin as well.
Combine this fiat debasement with the halving reducing block rewards, and bitcoin literally has the perfect storm for massive gains in the coming 18 months.
Are you ready?
Stay informed my friends.
-Doc
this shit has all but done started
we have no anti-fragile economy
...
and why is hive rising if nobody is here?
peace
HIVE is highly manipulated... All big and new exchanges are hoarding HIVE. Some are even distributing free tokens so people would deposit more HIVE. People are powering down their HIVE so they can send it to exchanges, but they need to keep the HIVE on exchange for days before they can withdraw and power it up again...
powering down and then powering up again .. why?
Because they started the powering down before the Hive fork happened...
oh right
Much of the volume from this surge is coming from Huobi, which is the exchange you are referencing. It will be interesting to see if more exchanges follow Huobi's lead and list HIVE as well in the coming days and weeks.
More exchanges listing Hive is very likely.
Well mostly due to a new exchange listing. But we are also likely getting to a mini altseason as well.
Regarding the economy, they will do everything they can to prop it back up, which means print print print!
a mini altseason, hah, alright... i may watch some of the virtual blockchain week cnf as well
Again, they are printing money out of thin air just to save the economy, I mean their economy.
US Dollar can't be worth less than it is now... Like I have said in previous comments, since currencies were detached from gold supply, all printed money has been from thin air...
More they print money, more prices will drop and that means value of USD will go up...
Eventually prices will drop so much that they need to add more decimals or cheapest products will cost less than 0.01 USD.
Its about the buying power of dollar. The buying power of 1 dollar on 1980 is equal to buying power of 100 dollar now.
True... But in few weeks buying power of 100 dollars will be a lot more. People can't buy as much there is supply and that will push the prices down and cause snowball effect on buying power.
You got it backwards here. The more they print the more things denominated in dollars, like houses and cheeseburgers (and bitcoin) will go up. The dollar is relatively strong right now, when all this money printing starts making its away into the broader economy, inflation ensues.
As long as the pandemic continues, there is oversupply of certain economically important products and services and that will push prices down hard.
It's the only way they know.
I'm still saying we should hoard both BTC and ETH...
Probably good ideas... though add a few smaller more speculative coins as well, like a HIVE, due to the upside potential.
I don't mind people hoarding my coin as long as they buy it on exchanges.
Money is going to loose value big time and people will be wondering what actually happened
I'm prepped but don't feel ready. So unreal. Check, check, check. Debts paid, hard assets, digital assets, food, weapons, networked with a few people and a lot of prayers....
Yep, that's the playbook.
Thanks!
We've been predicting something like this for years now... who knew all it would take is a little virus outbreak for the SHTF scenario to occur...
Yep, agreed. It has always been a possibility, but few knew it would actually happen. The timing couldn't be better with bitcoin's halving in a few weeks as well.