RE: FED to print close to $500 billion by year end - why Bitcoin matters
Dear @jrcornel
Another interesting publication.
Amount of liquidity FED is pumping into their banking system is enormous. QE and REPO market are burning HOT. I can forsee more and more countries trying to escape usd as a form of international payment for oil and more military conflicts happening across the globe (US won't let it happen easily).
I've learned that printed money need to be backed up by debts. What is backing up money injected to system via QE or REPO? Any idea?
ps.
I've noticed that you've been posting sometimes about crypto, blcokchain and technology. I love those topics as well.
If you would ever publish anything related to technology, economy, marketing, psychology or steemit etc - then send me link in memo. I'm trying to support quality content and I have 2-3 upvotes daily to spare from @project.hope (over 200k SP) i my own account. I will gladly support your publications (as long as they represent solid quality :)
Solid read. Upvoted already.
Cheers, Piotr
Sure, thanks for the heads up. I do mostly crypto posts, with a few steem/steemit ones sprinkled in from time to time as well.
This one might fit?
https://staging.busy.org/@jrcornel/the-biggest-winner-of-the-last-decade-wasn-t-netflix-facebook-or-even-amazon-it-was-bitcoin
or perhaps some of my recent steem ones...
And to answer your question, nothing is backing US dollars except the US federal government (and their army). At some point that will be an issue, especially when other countries decide they no longer want to accept something that can be created out of thin air. Which may already be happening.