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My long term outlook for Bitcoin might surprise you. ThinkAdvisor interview on MMT. https://www.thinkadvisor.com/2021/12/02/why-mmt-haters-have-it-wrong-economist-michael-norman/
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My long term outlook for Bitcoin might surprise you. ThinkAdvisor interview on MMT. https://www.thinkadvisor.com/2021/12/02/why-mmt-haters-have-it-wrong-economist-michael-norman/
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| My long term outlook for Bitcoin might surprise you. ThinkAdvisor interview on MMT. https://www.thinkadvisor.com/2021/12/02/why-mmt-haters-have-it-wrong-economist-michael-norman/ |
Most people Messi g around with crypto have no idea about macro geolpolitics. Zilch. You talk to these people and all they talk about is an awakening to what a fiat currency is and how it’s being inflated away. This kind of association is some serious cognitive dissonance. This is not meant to be ridicule but a point of reflection to remain factual. Comments like this point to an internal struggle. It’s ok dude
True. There's gotta be more people out there talking about it from an MMT perspective though.
bitcone, btfd
Always good
Great stuff man.
@7:32 Isn’t the U.S. doing exactly what you described Turkey doing…running a huge deficit and a trade deficit? U$D rallying while Lira crashes. I don’t follow the logic.
Dollar is a reserve currency: Budget deficits create dollars and trade deficits move those dollars into forex reserves around the globe.
The game is different for a country with a currency that is the global currency. Dollars are exiting Turkey right now.
@Taco so the best way to curb Turkish inflation would be to increase the trade surplus with the US, right?
@Robert Worldwide goods are priced in dollars, if there are no dollars in turkey and people demand dollars but there's only lira then there is hyperinflation. There is nothing they can do to stop the mass withdrawal of foreign capital at the moment.
Dont treasuries have both value as income stream and as collateral?
Doesn't taper reduce its collateral value by pushing the price of the bond itself down? The interest component is so tiny
The fact that governments are adopting it is a criticism, not an argument for Bitcoin adoption. We need a privacy based cryptocurrency to become the standard, that's not Bitcoin.
That is the best explanation about CC that I ever heard. No hype, concise, rational and easy to understand.
Thank you Mike I have learned a lot from your channel. Keep up the great work!!
Wouldn’t shutdowns result in more shifts in the economy instead of a net negative? Like internet companies and producers would benefit. Positioning for more shutdowns seems safer at this point.
Except you forget about paper $btc….we all know the manipulation that comes from this. Look at GLD, SLV…just another made up revenue stream, liquidity valve for the people in the know.
Of course you don't own Bitcoins. It is pure junk and cannot be trusted.
DeFi exchanges paying more than 100% a year on stable coins pegged to the usd. When big money enters this space, yields will be down big time. You've got a few years to enjoy defi
Lol, these Bitcoiners, "Bitcoin is finite, not like the FED that Prints Money and Causes Inflation and Steals all our Sweat Work!!!" And… then there's this, "But, actually Bitcoin can be used for a lot of things just like real money because it's infinitely divisible." As a chick in Texas don't even bother pointing this out to the testosterone BTC crowd that thinks school is just brainwashing and is worthless and math is even worse worthless. But let's debate finite vs. infinitely divisible. It'll be fun. Then we can watch WWF.
Wait this is a good point. If it’s infinitely divisible does that make it not finite? Which is it?
@ukulayme2 Literally
@Fair Skylls no I think you’re actually wrong here. Thanks infinitely dividing bitcoin doesn’t actually add more bitcoin so that wouldn’t make it inflationary
@ukulayme2 lol, whatever
@Fair Skylls seriously. Infinite division doesn’t cause inflation. Stop spreading disinfo
Reminiscent of the Dot Com bust. Crypto will end badly…it's a Ponzi scheme at best
Lot of people by crypto in countries where people are not able out freely move their money out, such as China. A lot of others buy it for the memes. And now people are starting to buy it to purchase nfts, this allows for ownership of digital assets, and will be the future of collectables, art, & possibly gaming.
King Dollar came into existence when the USA kicked the worlds ass in WWII, the next king currency (will go to the next country who kicks the world ass).
Crypto FINITE (LOL) the owners of the money system will chop bitcoin down to 1/10,000,000,000 just like the watering down of the USD with fed printing.
Why would the owners of bitcoin want to devalue their bitcoin?
Excellent insight on Crypto only person to say this you Mike, and you are correct in my opinion ,
Funny how main stream media beats the fear mongering drum of war with Russia and China just in time to vote on defense bill.
21 % interest rate environment had REAL LABOR markets, now we have banana republic low paying service jobs 70% of economy, other comparison today the financial system and government has squeezed out the percentage of private sector. Back in the 21% Interest rate environment govt and financial system share of US economy was much smaller. Therefore so many on the dole the banks have a horror experience if the gubbamant and fed takes away the one pound of cheese to the free shit army of low wage earners and the financial elite, some good bullshit by me dont you think?