CRYPTO AND INFLATION: THE CHAINS THAT BREAK

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Very worrying US data from the point of view of price dynamics is pushing some assets sky high and causing movements in the markets The inflationary specter is now at home. The annual inflation rate in the U.S. rose to 6.2% in October 2021, the highest since November 1990 and above forecasts of 5.8%. Upward pressure has been broad-based, with energy costs posting the largest gain (30% versus 24.8% in September), led by gasoline(49.6%). After all, without excise taxes, the price is immediately and massively affected by any price movement. With these prices there will be many Americans tightening their belts.

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Inflation also increased for housing (3.5 percent vs. 3.2 percent); food (5.3 percent vs. 4.6 percent, the highest since January 2009), or food in the home (5.4 percent vs. 4.5 percent); new vehicles (9.8 percent vs. 8.7 percent); used cars and trucks (26.4 percent vs. 24.4 percent); transportation services (4.5 percent vs. 4.4 percent); clothing (4.3 percent vs. 3.4 percent); and medical care services (1.7 percent vs. 0.9 percent). In short, prices rose everywhere, high that restraint from Biden. There is a bit of bad Soviet barnyard in the air, which we will discuss separately.

Real rates on government bonds have plummeted, despite the fact that implied rates (break even rates) have skyrocketed on 10-year US bonds

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Of course, someone is celebrating: first of all gold, which has been at a five-month high:

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Then also Bitcoin, the (for some only in theory) deflationary investment par excellence, which is back at $68,000.

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Inflation, which was not supposed to exist according to the FED and Biden, which then was only supposed to be temporary, as widely predicted and said, has arrived, and in the form of the "Bad" one, from energy shocks. Now the possibilities of a FED tightening of rates are increasing, but this will not produce diesel, gasoline or food.

CRYPTO AND INFLATION: THE CHAINS THAT BREAK

What I will write here is only my thoughts. The economic crises over the years have shown everyone that there are people, shady people, who play with the "value of time" of ordinary people.

Yes, because the pay for our daily work is the compensation for hours taken away from our lives to perform a task and well or badly, those who succeed or those who can, perform the task that he likes the most so that this time can also give satisfaction. Then comes inflation...what is that?

The general increase in prices etc. etc., we all know what it is beyond economic definitions, it is time spent that is stolen from us, it is value that is taken away from us, it is a part of our life whose fruits have been taken away from us. How is it taken away from us? By printing money, loosening commodity supplies, manipulating ETFs, exchange rates, etc.

But in the end, what is a dollar? it is a piece of paper that represents time value that another person will be willing to accept for a given counterperformance because they know other people are willing to do the same.

There is NO UNDER!!! But in the end, no currency has an underlying that has any real utility. Even gold has a value that is different from its actual "technical" use value, if from today we all start not to accept it as payment and we do not give it any value (including aesthetic value), how much could it be worth? The same with BTC and other cryptocurrencies, with the difference that here the value is in the technology used that allows for decentralization, excluding intermediaries, building smart contracts, tools that increase trust, but also here there is no underlying.

But BTC has a well-defined inflation that is written in its code, no one individually will be able to establish overnight, that more BTC should be mined than established. No one will be able to determine that your work time yesterday is worth less than your work time today or tomorrow (in fact, it will probably be the other way around).

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(This photo is released free to use by the author jpvalery)

There will be no elite that will keep us chained, with the nightmare that prices will rise, that you won't be able to bring bread home for your family, PRODUCE, PRODUCE, PRODUCE!!! Until you get close to retirement age, destroyed, with some delibitating disease that some asshole at the health insurance will find a way not to pay you, you will have worked all your life, enjoying it only in part, and then you will leave everything. That's not my story, but many people's.

SO LET'S BREAK FREE FROM THESE CHAINS AND FINALLY FUCK THE TYRANTS OF FINANCE AND TAKE BACK CONTROL OF OUR LIVES! FUCK THE DOLLAR, I BUY BITCOIN!!! I BUY HIVE!!! I BUY CRYPTOCURRENCIES!!!

Posted Using LeoFinance Beta



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