RE:RE:☆☆☆ BIG GREEEEEN DAY COMING ☆☆☆tootall123 wrote: The US Dollar is going down the toilet.
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Last Updated: Dec 17, 2020 at 8:51 a.m. ESTDelayed quote
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Yes it is. Read this............ Fiat currencies have historically lost most of their value after de-pegging from gold, and the best way to protect against an inevitable decline of the U.S. dollar is to buy bitcoin or gold, says Alex Mashinsky, CEO of Celsius Network. The history of fiat demonstrates that every fiat currency, over time, will lose all its value, Mashinsky said. Even though the dollar has already lost 90% of its value since the end of the Bretton Woods, more devaluation could still occur. We unpegged in 1971 and since then we lost 90% of the value. What we have today is the 10% remaining, but that could still depreciate by 90% or 99%, Mashinsky said. Importantly, many of the historical devaluations of fiat currencies happened when the money supply expanded. 20% of all the dollars that were ever printed were printed this year, Mashinsky noted. From a dollar standpoint, the inflation was 20% in 2020, but from a price index standpoint inflation was only 2%. To protect yourself from monetary inflation, you need to be in assets like bitcoin and gold, he said. Monetary is expected to remain accommodative in 2020, Mashinsky said. They will continue to print more money and the government is going to going to print more deficits. Now that Yellen is in the Treasury, you have basically a Keynesian still remaining in the Fed, and you have a double whammy, he said. On the economy, companies that are tied to the digital economy will perform well next year, while the rest of the economy slowly recovers, Mashinsky said. ByDavid Lin ForKitco News