Bitcoin Down U.S Dollar Up Consumer Price Inflation Has Nowhere To Go But Up As Long as Progressive/Socialist Politicians Continue their war on fossil fuels – September 15, 2022.

Bitcoin being a derivative of Fiat money, currently is a great indicator of how much DISPOSABLE income people have; I imagine Bitcoin as a bet for Zero Interest Rate Policy, tamed consumer price inflation, and asset prices guaranteed to go up. When asset price inflation is no longer how the markets are betting, I expect the price of Bitcoin to collapse because if, let’s imagine the next two decades, the Federal Reserve keeps rates between 5-7% why would I leave my money in Bitcoin? It doesn’t pay a dividend or interest.

$1 million dollars multiplied by 5% divided by 12 is over $4100 in income per month; a lot of people can live off that type of money. I know people in poor countries who can 12000 pesos as an example. When people say hiking rates is going to destroy the economy, I don’t see it, yes, some companies will go bankrupt, but that’s healthy; that’s how the economy is supposed to operate.

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My position is rather simple, I think the world is headed for austerity measures, but how long it takes us to get there is anyone’s guess. Bitcoin is derived from fiat money and its behavior will be based on fiscal policy and the central banks, sure there are other factors, but those are the two I pay attention to; as ASSET PRICES deflate, the price of bitcoin will deflate, bitcoin is NOT the only bloated asset, there are tons of them, that I expect to come down, as the world shifts back to a cashflow rich economy.

 

Once the economy shifts back to a cash flow-rich economy, austerity measures are inevitable, I don’t think they’ll be called austerity measures, people hate those words, but the government you see now, is likely to shrink in the future and by future, I can’t give you an exact date, because maybe there’s a new war, maybe a natural disaster, the timeline is too hard to call, what I do know is that this current war on fossil fuels is rather silly and unless some new energy invention comes along that can drastically lower the cost of energy and doing business, consumer price inflation is going to get worse and worse so long as the Progressives are in charge.

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Regarding Bitcoin, I’ve never looked at it as a means to get rich, so excuse me if I have no emotional attachment to the price. I like looking at the price because I see ECONOMIC DEFLATION as the new normal and because bitcoin trades 24/7/365, it’s one of the indicators I use to get a pulse of the economy. The current price of Bitcoin before I click the publish button is $19,746.80USD for 1 Bitcoin.

1 Euro will currently buy you 0.99cents USD. Why I think this is happening is because Europe embraced high point of sale taxes meaning that consumer price inflation will likely be extremely DEFLATIONARY for the Euro Zone. Raising interest rates in Europe will be extremely risky because their tax structure makes many European businesses ZOMBIE companies. This eventually will become apparent when it’s ACCEPTED that this war on fossil fuels was a really bad idea.

Interesting times ahead