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More than 35% of US Dollars Ever Printed Were Created in 2020. This Demonstrates An Important Need For Bitcoin And Other Deflationary Assets
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Over 70% of all tethers have been minted this year.
Whatever fiat can do, crypto can do better
They’re trying to catch up to the USD ! /s
seems like a bunch in the last 24 hours?
At this rate the flippening we’ll end up getting is Tether being on top😂😂
This is a large part of why stablecoins are all generally risky. People forget that stable/pegged coins existed in FIAT as well and literally every single one that’s ever been created has failed, often dramatically, and usually within a very short time period.
Exactly … bitcoin isn’t better . Need to ban tether, Chinese scam
That’s why I buy USDC as an inflation hedge against Tether
Whenever I read the word tether I picture it lime T-mobil T-ether
mint doest mean wat ju think
Counterpart needs to keep the pace somehow.
Has money been given to Tether to back them with?
That’s a lot of tether 😳
Tether – rookie numbers, gotta bump it up!
1.5 billion USDT minted in last 24 hrs
Tether: Yes
US Dollars backed by an economically prosperous nation of 330 million productive taxpayers… US Tether printing infinite coins backed by 16 guys in an office in the British Virgin Islands. Yeah, crypto is absolutely the solution to the problem.
Right? I mean I’m not a shill for USD but it’s silly to pretend that being the most economically powerful nation on earth doesn’t have weight.
And the article is crap, it doesn’t say anything true at all.
To add to this, did anyone notice bitcoin lost about 1/4-1/3 its value in a few weeks because of a few bitcoin rich people?
I guess if this keeps on going. BTC will reach $ 1Million in no time.
When can I buy groceries with it though.
But the question is what will you be able to buy with $1M at that time.
Unless Tether crashes the entire crypto market by doing the same as the dollar does, ‘printing’ new coins out of thin air by the billions.
Get your digital wheelbarrows ready!
the correct number is 25%. actual data: https://fred.stlouisfed.org/series/M2NS
Also the article has a graph for M1, not for M2 (but then, the numbers they mention of 15 and 19 do correspond to M2 values from January and December 2020). However, those numbers do not match 35%. By looking at the M2 graph you linked, I get that 27.2% of M2 was created since January 2020 (with 20.2% being created during 2020, the rest in 2021 up to October).
The federal reserve has printed a massive amount of dollars lately, but using incorrect data, although it leads to shocking headlines, will make the point quickly dismissed in a real conversation.
35% is a lot. How will they offset this debt?
If one understands what ‘debt’ is, one understands that there is no need to ‘offset’ it…..just accept it, and service it.
By printing even more next year
It’s not a debt, it’s inflation. The government has debt, the fed reserve can print at will without debt needing to do so.
The idea is that they pull the money back in when the market runs too hot. They should be doing this already but they are too concerned it may make things tank. It’s possible we just have high inflation for 5-7 years as a result, and that printing is just corrected.
By adding more
US GDP increased by $9 Trillion in 2021. Over 10%. For a total of $94 Trillion dollars worth of US Domestic Product in 2021.
Adding 4 trillion in cash is a lot but it’s not worth this level of chicken little doomsday drama.
What debt? Printing money doesn’t create debt
Sell some bonds I guess? Or take the debt from other countries. I don’t know.
It is already offset by making us 35% poorer against other countries… luckily every other country has done the same. So if you think about it… it’s just a clever redistribution of wealth from everybody (mostly people who go from pay check to pay check) to those who have access to new capital. The ultimate tax. At least it has been used to research and distribute vaccines and help both employers and employees to keep their business and jobs. In a world where countries have no access to monetary policy, COVID could’ve triggered wars to access this needed capital… just something to keep in mind no? Edit: more thoughts…
By continually kicking the can down the road, juggling things and fudging numbers until one day it explodes and our grandchildren starve to death while listening to the sound of the Austrian school economists, preppers and gun advocates screaming ‘I told you so!!!!’
You have it backwards, printing money is offsetting the debt.
I think it was pretty much no other option to counter COVID measurements and halts to production and services. But yeah they are going to carry this debt for a while.
So what tether is doing ATM
ATM go brrrrrrr
$USD is a shitcoin
It’s a slow rug actually.
It’s the original shitcoin
• 27 trillion in circulation
• unlimited supply cap
• only 1 node
• 25% of supply minted in last 6 months
• 1% of holders own 30%
It’s much worse than a shitcoin
AgreeGe
But how much Tether was printed in the same timeline?
Tether would have to print Bitcoin 4 times to equal that dollar addition
If this continues like this, BTC will be $1 million.LOL
People love this stat, but $1 today is not = to $1 in 1950. It is a stat like the S&P market top in that future state it will be higher due to inflation.
It is why our record deficits in early 2000’s look tiny compared to 2020’s. The next recession will bring even more ‘printing’, if you prefer that word.
In short, if this stat has you thinking the entire fiat system is ready for full collapse. This has been the sentiment of gold bugs since the 70’s. You have the best indicator of value of the $ in the forex and US Treasury auctions. Let that be your fear gage rather than these types of articles.
To be fair they do take old bills out of circulation and replace with new bills.
Why do I have to scroll so far to find the correct answer?
Also the US stock market went up by like 8T and the US GDP went up by 3T so more money is needed to represent that
‘libertyconservativenews’
Seems like a reliable source
😅
Bitcoin Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
Sort comments as controversial first by clicking here. Doesn’t work on mobile.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
Over 70% of all tethers have been minted this year.
Whatever fiat can do, crypto can do better
They’re trying to catch up to the USD ! /s
seems like a bunch in the last 24 hours?
At this rate the flippening we’ll end up getting is Tether being on top😂😂
This is a large part of why stablecoins are all generally risky. People forget that stable/pegged coins existed in FIAT as well and literally every single one that’s ever been created has failed, often dramatically, and usually within a very short time period.
Exactly … bitcoin isn’t better . Need to ban tether, Chinese scam
That’s why I buy USDC as an inflation hedge against Tether
Whenever I read the word tether I picture it lime T-mobil T-ether
mint doest mean wat ju think
Counterpart needs to keep the pace somehow.
Has money been given to Tether to back them with?
That’s a lot of tether 😳
Tether – rookie numbers, gotta bump it up!
1.5 billion USDT minted in last 24 hrs
Tether: Yes
US Dollars backed by an economically prosperous nation of 330 million productive taxpayers… US Tether printing infinite coins backed by 16 guys in an office in the British Virgin Islands. Yeah, crypto is absolutely the solution to the problem.
Right? I mean I’m not a shill for USD but it’s silly to pretend that being the most economically powerful nation on earth doesn’t have weight.
And the article is crap, it doesn’t say anything true at all.
To add to this, did anyone notice bitcoin lost about 1/4-1/3 its value in a few weeks because of a few bitcoin rich people?
I guess if this keeps on going. BTC will reach $ 1Million in no time.
When can I buy groceries with it though.
But the question is what will you be able to buy with $1M at that time.
Unless Tether crashes the entire crypto market by doing the same as the dollar does, ‘printing’ new coins out of thin air by the billions.
Get your digital wheelbarrows ready!
the correct number is 25%. actual data: https://fred.stlouisfed.org/series/M2NS
Also the article has a graph for M1, not for M2 (but then, the numbers they mention of 15 and 19 do correspond to M2 values from January and December 2020). However, those numbers do not match 35%. By looking at the M2 graph you linked, I get that 27.2% of M2 was created since January 2020 (with 20.2% being created during 2020, the rest in 2021 up to October).
The federal reserve has printed a massive amount of dollars lately, but using incorrect data, although it leads to shocking headlines, will make the point quickly dismissed in a real conversation.
35% is a lot. How will they offset this debt?
If one understands what ‘debt’ is, one understands that there is no need to ‘offset’ it…..just accept it, and service it.
By printing even more next year
It’s not a debt, it’s inflation. The government has debt, the fed reserve can print at will without debt needing to do so.
The idea is that they pull the money back in when the market runs too hot. They should be doing this already but they are too concerned it may make things tank. It’s possible we just have high inflation for 5-7 years as a result, and that printing is just corrected.
To better understand this issue, I recommend people learn about the Velocity of Money, and its relationship to supply and interest rates. Yes, a lot of money has been ‘printed’, but the distribution of that new money, and how it affects the economy, has changed drastically over the last several decades.
By adding more
US GDP increased by $9 Trillion in 2021. Over 10%. For a total of $94 Trillion dollars worth of US Domestic Product in 2021.
Adding 4 trillion in cash is a lot but it’s not worth this level of chicken little doomsday drama.
What debt? Printing money doesn’t create debt
Sell some bonds I guess? Or take the debt from other countries. I don’t know.
It is already offset by making us 35% poorer against other countries… luckily every other country has done the same. So if you think about it… it’s just a clever redistribution of wealth from everybody (mostly people who go from pay check to pay check) to those who have access to new capital. The ultimate tax. At least it has been used to research and distribute vaccines and help both employers and employees to keep their business and jobs. In a world where countries have no access to monetary policy, COVID could’ve triggered wars to access this needed capital… just something to keep in mind no? Edit: more thoughts…
By continually kicking the can down the road, juggling things and fudging numbers until one day it explodes and our grandchildren starve to death while listening to the sound of the Austrian school economists, preppers and gun advocates screaming ‘I told you so!!!!’
You have it backwards, printing money is offsetting the debt.
I think it was pretty much no other option to counter COVID measurements and halts to production and services. But yeah they are going to carry this debt for a while.
So what tether is doing ATM
ATM go brrrrrrr
$USD is a shitcoin
It’s a slow rug actually.
It’s the original shitcoin
• 27 trillion in circulation
• unlimited supply cap
• only 1 node
• 25% of supply minted in last 6 months
• 1% of holders own 30%
It’s much worse than a shitcoin
AgreeGe
But how much Tether was printed in the same timeline?
Tether would have to print Bitcoin 4 times to equal that dollar addition
If this continues like this, BTC will be $1 million.LOL
People love this stat, but $1 today is not = to $1 in 1950. It is a stat like the S&P market top in that future state it will be higher due to inflation.
It is why our record deficits in early 2000’s look tiny compared to 2020’s. The next recession will bring even more ‘printing’, if you prefer that word.
In short, if this stat has you thinking the entire fiat system is ready for full collapse. This has been the sentiment of gold bugs since the 70’s. You have the best indicator of value of the $ in the forex and US Treasury auctions. Let that be your fear gage rather than these types of articles.
To be fair they do take old bills out of circulation and replace with new bills.
Why do I have to scroll so far to find the correct answer?
Also the US stock market went up by like 8T and the US GDP went up by 3T so more money is needed to represent that
‘libertyconservativenews’
Seems like a reliable source
😅