It is a public secret there is no scarcity as far as fiat currency is concerned. Central banks can keep increasing the overall supply whenever they see fit. Bitcoin, on the other hand, may not have a “top”, as far as Max Keiser is concerned.
Fiat Currency is Doomed
Given the actions by central banks and governments over the past few decades, the 2008 financial crisis was unavoidable. Although some analysts point at the real estate “bubble”, the underpinning financial system has been a weak point for some time now. Unfortunately, it does not appear that any bank or government learned from previous mistakes. Things are not going well in 2020 either, further compounding any existing issues or problems.
If the COVID-19 pandemic has yielded any results, it is evident banks will keep printing money. Many people ask for stimulus and bailout packages, but that money simply doesn’t exist in the real world. Every time such a request is granted, fresh money will be created by printing machines. As such, that “new money” has no intrinsic value in the real world unless everyone agrees it does have value.
Keeping that in mind, it is evident there is no “top” for fiat currency. In fact, the supplies keep rising all over the world. In some countries, the situation is very dire. Banknotes need to be re-issued to have less zeroes on the bills. It is a very serious problem, but one that cannot be solved all that easily.
As can be seen in the Tweet above, Max Keiser is keeping a finger on the pulse. With fiat currency not having a top or supply cap, the current economic system cannot be sustained for much longer. It is merely a matter of time until everything collapses. If and when that happens, there will be no “easy” recourse by any means.
Bitcoin has no Upper Limit
It is uncanny to see the value of Bitcoin depicted in limitless fiat currency. One has to wonder if a truly scarce form of money can have a quantifiable value in fiat currency. For the time being, the Bitcoin price is mainly depicted in US Dollars. However, the US Dollar has an infinite supply, and may not be the most reliable metric to express value for Bitcoin at this point.
A “flippening” may be a better overall metric these days. Rather than depicting the BTC price in US Dollar, the opposite needs to happen. Making this the new norm around the globe is unlikely to happen, however. For those who rely on depicting value for goods and services properly, moving away from fiat currency seems to be a matter of time.
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