Bitcoin

Historical monetary impression, but inflation is not rising enough. Why is the bitcoin community so wrong?

In a tweet on June 9, 2020, Binpen CEO Changpeng Zhao mentioned the word “hyperinflation” in a prediction about the dollar. According to him, The monetary expansion of this time would be responsible. He was referring to the printing of money by the Federal Reserve and the other central banks in the world. A few days earlier, RT presenter Max Keizer warned quite strongly about the effects of “rising inflation”. And Anthony Pompliano spent practically the entire first half of 2020 talking outrageously about rampant “money pressures”.

It is extremely strange for a Venezuelan (like me) to hear these crypto influencers speak in these terms about the dollar, inflation and the monetary policy of the developed world. In the United States, for example, inflation has not exceeded 2% a year on average for many years. Personally, this seems like a great accomplishment worthy of admiration. However, if you listen to these influencers, it seems that 2% is a major tragedy. We are already in November and there are only a few weeks left until the end of the year. Currently we can examine the impact of stimuli on annual inflation this year. Do we have “hyperinflation”? What happened to the predictions?

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