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42-Coin Friday, 22/5/2020

42-Coin Friday, 22/5/2020

All Cryptocurrencies

by COINS NEWS 18 Views

COVID>(hyper)inflation>cryptos>42-coin

1% of the world’s population is 75 Millions. And suppose we assume that only 1% of folks ultimately contract the virus. That’s an extremely low estimate. Indeed, crazy low.

So, we’re now almost six months into the pandemic, and only 5M of that theoretical 75M have been infected. We are looking at ‘slow burn’ for nothing less than months and months and months. That’s a lot of stimulus!

‘The economic hit has been stark. About 122 million Indians were forced out of their jobs last month, according to estimates from a leading private sector think tank, pushing up the jobless rate to 27.1% compared with 22% implied for the U.S. In recent days, Modi has pledged a $265 billion stimulus package to shore up the economy.’

https://theprint.in/india/indias-50-day-lockdown-has-brought-economic-misery-even-as-covid-cases-surge/422012/

‘For bitcoiners, the pessimism on the economy was just another reason to be bullish, since it means the Federal Reserve is likely to inject more money into the markets, strengthening the case for buying the cryptocurrency as an inflation hedge. The Fed's total assets, which stood at $4.2 trillion at the start of the year, have now surged to almost $7 trillion.’

https://www.coindesk.com/first-mover-bitcoin-price-rally-message-capitalists-despair-wall-street

Now look here, at the ‘5Y’:

https://www.bullionvault.com/gold-price-chart.do

In conversation with a friend today, I was discussing The Unexpected Noo Normal. Remember when cryptos were crazy stuff? Just a rubbish passing fad?

So, there are three elements: gold/silver, stocks, cryptos. And over the past ten years, each day patiently studying the GFC, I’ve seen people come to accept the 2010-tin-foil-hat prediction:

Stock prices are/will be out of their minds. They represent nothing substantial anymore. They are a balloon pumped full of Gubmint Phunnneeee Munneee.

And now gold/silver is creeping up. And here’s the punch line: cryptos – hard-capped instruments like 42-coin – are being seen in a whole noo light: can’t be Phunnneeee-Munneeed-ed!!

Best this week:

https://theconversation.com/megacity-slums-are-incubators-of-disease-but-coronavirus-response-isnt-helping-the-billion-people-who-live-in-them-138092

submitted by /u/indiamikezulu
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