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So I was just doing the dishes for my kids and noticed like most products, made in China was listed on most items. This caused me to reflect on what fit us here and how to possibly fix it. Naturally me head goes to Bitcoin.
This wasn’t the case prior to getting off the gold standard in 1971 and onto pure fiat money. If all of these products were made in the US like before that time, think how expensive they would be.
In addition to this true inflation there have been many other negative impacts. Child labor in China that people ignore, small businesses in America closing since they can’t complete with cheap Walmart crap. These are all fiat businesses to keep us down. There are numerous other negative impacts as well which is why we have the biggest gap from the top 1% to the rest of us.
Bitcoin fixes this and calls out this inflationary theft. I’m so happy I found Bitcoin and this community. I can’t believe our inflation will be cut in half again this April to well under 1% becoming the hardest money ever. I’m stoked for my first halvening and I’m sleeping like a baby with my sats in cold hard storage with a multisig!
Inflation first eats into the cost savings the global economy generates through deflation long before it appears in the cost of the prices you pay, there are so many downstream effects to cut costs, unsafe working conditions, harmful chemicals that affect staff and the immediate environment, longer working hours, and eroding of 3rd world savings to encourage dollar imports,
Its such a perverse system, with some of the weirdest trade-offs as people chase the incentive that is higher nominal returns
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I mean, you're absolutely correct that inflation was hidden behind a wall of Chinese manufacturing, subsidies, and currency manipulation. It's no surprise that the more we decouple from China the more inflation we get
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This! You further nailed it and bring up great points on the further impacts that are coming. Politically if we have a falling out with China or supply chain issues, lookout!
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0 sats \ 1 reply \ @Eobard 5 Jan
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Yeah 👍 ! I started buying the top in spring of 2021. How grown so much and have been DCAing the past 2 years
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