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As in, scam people and then scapegoat 'crypto bros' for the current financial crisis that has more to do with printing money than anything else?
by fartcannon 4y ago
As in, scam people and then scapegoat 'crypto bros' for the current financial crisis that has more to do with printing money than anything else?
- danielmarkbruce 4y agoWhat financial crises?
- fartcannon 4y agoDenial works too, I guess.
- lottin 4y agoWe're not in a financial crisis.
- JumpCrisscross 4y agoTo add to this, we’re in a bear market and possibly recession. But not a financial crisis. (We’re also not in a currency crisis. The dollar is gaining against pretty much every currency. It’s also gaining against practically every crypto.)
- danielmarkbruce 4y agoThe stock market going down and a decent potential of recession doesn't meet the definition of "financial crisis" that is used by people in finance. I guess you can make up your own definition.
- vintermann 4y agoNobody is printing money. Either you have this naive understanding that government is secretly printing money and hiding it from the auditors, in which case you are simply wrong. Or you could have the more sophisticated opinion that, "yeah, I know that the so-called freshly printed money is actually already circulating money that government convinced people to give them in return for a promise in the form of a bond. But that's practically the same as printing money!" But if you take that perspective, then crypto bros are ALSO printing money at a furious pace.
- kgwgk 4y ago> already circulating money that government convinced people to give them in return for a promise in the form of a bond The money printing part is not the Treasury issuing bonds (and getting money). The money printing part is the Federal Reserve buying bonds (and giving money).