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The Fed’s Unlimited Ammo Highlights Importance of Bitcoin’s Digital Scarcity

Written by:
Aaron Goldstein
Published on:
May/18/2020

In a follow-up interview, last night on 60 Minutes Powell made comments that underscore the importance of the digital scarcity hard-coded into the Bitcoin protocol. 

“We’re not out of ammunition by a long shot,” Powell said in regard to prevent another depression.  

In a recent article published by market analyst Frank Giustra, he claims that the US dollar is on its final act.  The analyst says that history shows, every 100 years or so, the reserve currency falls out of power. 

It is almost always driven by “over spending on wars, over consumption, excessive debt and easy credit.” 

Giustra says that the Fed is now the only buyer of US government debt, and akins their recent efforts to “the bad guy throwing his gun at the protagonist when he runs out of bullets.” 

He claims it is a “mathematic certainty” that the Fed will “never, ever be able to normalize interest rates and will never unwind its bloated balance sheet.” 

.....Bitcoin is contactless, controlled by no third-party, so policymakers like Powell can’t push off fiscal responsibility for future generations to later deal with. 

Bitcoin was born out of the last major recession as a means to prevent future economic suffering at the hands of governments and bankers like Powell. 

- Aaron Goldstein, Gambling911.com

Business/Financial News

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