The New York Times 02/Dec/2008: “U.S. Recession began last December, economists say”
The Times 03/Jan/2009: “Chancellor on Brink of Second Bailout for Banks”
The New York Times 03/Feb/2009: “Bailout Plan: $2.5 Trillion and a Strong U.S. Hand”
The 12 years since those headlines, that January 3, 2009 Genesis bitcoin block and the global financial crisis that spurred the Bitcoin network’s creation, have been defined by historical central bank monetary expansion. The supply of the United States dollar under the Obama and Trump administrations’ three different Federal Reserve chairs — Bernanke, Yellen and Powell — has increased wildly.
To see why this supply increase is significant, it is important to understand that the dollar is held as the predominant reserve currency for many of the central banking regimes across the world. Because of this major reserve status, the USD is often the fundamental unit of account for much of the world’s financial systems and international settlement markets, for example in many oil markets with the petrodollar.
However, it appears that other central banking regimes are also increasing the supply of their own local currencies, even against the USD. The measurement device and reserve tool that these folks use is being debased, yet despite this, they are also simultaneously debasing their local currencies at record paces in this past decade.
This multinational bankster money supply gluttony is appearing to have multi-order effects on the rest of the world. Despite all of this lustful debasement and greedy central banker currency supply malfeasance, the Bitcoin network continues to validate and verify peer-to-peer digital scarcity.
Beyond the United States and the United Kingdom (“Chancellor on the Brink”), which have run rampant with their…