China 🇨🇳 is busy at the printing press 💵
1471 sats \ 3 comments \ @BitcoinIsTheFuture 22 Jan bitcoin_beginners
Well we have another one here. The China printing press is busy. Like really busy…
The PBOC just added $150B to its balance sheet in December. This just keeps coming with no slow down appearing!
This brings the total increase to almost $850B just in the last 5 months.
What would you do to protect your purchasing power? Of course the government doesn’t like Bitcoin and has tried to ban it like 100 times with ZERO success!
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40 sats \ 2 replies \ @Undisciplined 22 Jan
My impression is that holding lots of cash reserves is common in East Asia. Is that correct?
If so, this is the easiest way to tax the people.
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27 sats \ 1 reply \ @south_korea_ln 23 Jan
Not that common anymore. Not in Korea, and even less in China. Or did you mean, "cash in the bank" kind of cash?
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0 sats \ 0 replies \ @Undisciplined 23 Jan
Thanks, I did mean physical cash.
I recall reading about the Japanese tendency to hold a significant share of their net worth in physical cash and how it was common throughout East Asia to a lesser degree. That was a while ago, though, so I'm not surprised to hear that it's changed.
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