When something hits you, it can get worse. This appears to apply to both the weather and the expansion of the US monetary base. According to a report by The The New York TimesAnd the “President Biden will propose a $6 trillion budget on Friday that would take the United States to its highest sustainable levels of federal spending since World War II, while deficits to exceed $1.3 trillion over the next decade.”
Only a year ago, the pandemic began, and the Federal Reserve had to start a major stimulus to the economy via inflation and quantitative easing. Starting at $2 trillion, the stimulus package was supposed to keep the US economy going. Definitely, The epidemic was just a catalyst to increase The current inflationary practices of the Federal Reserve.
Inflation is an insidious concept, which not only removes value from common people’s money but gives access to a few elite the ability to create value out of thin air. Bitcoin Magazine‘s “When More Isn’t Better: Inflation in the Twenty-first Century, by Sebastian Bony, details how monetary expansion destroys economic growth and potential. And it’s not just rampant inflation in the sense of excess money that destroys the system, lowering interest rates and making credit cheap leads to long-term debt cycles, as explained by Bitcoin Magazine‘s Dylan Leclerc.
I explain in my own article, “If you don’t buy Bitcoin, you can’t be rich, “Anyone with cash at the moment is exposed to an enormous amount of risk, the whole of whose value lies in confidence that the Federal Reserve will maintain faith in its system. But in truth, the party is over. Even elected officials have lost confidence, like Miami Mayor Francis Suarez who did it He admitted that the previously proposed $1.9 trillion stimulus prompted him to buy bitcoin. In fact, when articles are written about The death of the US dollar, And the Billionaires are sounding the alarm That monetary policy is not in line with economic conditions, something is going dramatically wrong.
With all this, you are destined to earn bitcoin. Although this cannot be stated explicitly, previous catalysts are often seen as drivers of the upward rally in the price of Bitcoin. and with Synchronous upward stimuli such as halvingThe economic environment for money as good as Bitcoin to soar forward appears to have matured. It remains to be seen if the $6 trillion proposal will be accepted, but it is clear that further inflation is expected and should contribute to the revitalization of the bitcoin bull market we are in.