/biz/ - Business & Finance

Imagine selling the only safe currency in the world.

https://www.youtube.com/watch?v=DUrlNHTxuJM

0:43

Neel Kashkari, president of FED Minneapolis on the printers going BBBRRRRRRRRRRRRR:

"Can you characterize everything the FED has done this past week, as essentially FLOODING THE SYSTEM WITH MONEY ?"
*maniac deathstare*"Yes, exactly"
"And there's NO END to your ability to do that?"
"There's no END, to our ability to do that."

>10 million americans have filed for unemployment benefits only in the past TWO WEEKS
printing more money that competes for even less labor is such an EXCELLENT idea!

banks can do whatever they want with your money

>>18246876
This. The usd might be bad but all other currency is pure dog shit

>>18246953
Last week when the largest stimulus bill in history worth 2.2 TRILLION dollars passed, the dollar collapsed for a WEEK. That collapsed lasted a week and has recovered most of those losses. It will continue to gain furiously over the next month as the real extent of this crisis becomes apparent. The only safe currency is USD.

Only alternative money from USD is BTC.

>>18246839
I have 350K Japanese yen that I was going to use on my now canceled vacation.

Am I going to be okay? Will JPY be the new world currency?

>>18247824
funds with diversified worldwide currencies are most likely going to gain more attention

The dollar is strengthening.

>>18246876
Can't.

>>18246839
Why doesn't Zimbabwe just decide to remove like 12 zeros and call it good?

>>18246953
there's not an end of their ability to do it, but there's an end to that ability's value.

>>18246876
Just this

wait a minute buddies...what's this?

>>18246839
OP, the US can print trillions of dollars but if the world is crashing all around it there will be more than enough foreign demand to soak it up. It's not as simple as more money=hyperinflation, the relative stabilities of other currencies matter too. In fact, the dollar's value can go very high which will gut exports and US employment but be good for the consumer.

This isn't a stable situation long term and might lead to political movements elsewhere for countries to free themselves from the dollar, but in the short terms the dollar is bullish.

Basically this:
>>18246876

>>18248583
Ok, that's a match alright

Trying to correlate banking policy with inflation is an absolute brainlet tier take. I'm not surprised people here are spouting it; this place goes one standard deviation down in IQ for every jump in stock market volatility

>>18248811
>Trying to correlate banking policy with inflation is an absolute brainlet tier take.

I mean, they are correlated but there is a lot of other factors too.

>>18248757
so this would be bad for bitcoin initially right then?

>>18248811
Where were you this week when it changed? The bank is now compelled by the administration. The inflation risk exists.

>>18248972
Not necessarily. Bitcoin and the dollar are both safe havens from the perspective of a collapsing foreign currency. It's possible some will move to dollars but more will move to bitcoin so that the bitcoin/dollar ratio goes up.

The FED is printing to keep up with global demand for USD and the money printer can't keep up. Every non-american nigger in the world from Canada to New Zealand is desperately buying USD as their currencies become toilet paper. Yes fiat will fail, but USD will be the very LAST to fail.

>>18249096
this

Bitcoin safe haven??????looool like Link right????

>>18246839
you can't sell money, only use it to buy things

>>18246953
This dude looks like he's into some freaky shit when he has the secks

>>18247780
Correct

>>18249055
Foreign currency holders are the ones likely to flock to btc.