When the Federal Reserve prints, in a single year, a quarter of all U.S. dollars ever circulated, you can be sure we are firmly in the fiat endgame. In the next 12 months, the FED will likely print more U.S. dollars than ever existed before this year. Those among us like Mike Maloney, The Dollar Vigilante, and Ron Paul, have been raising the alarm for some time and unfortunately for holders of dollars, they are proven right.
Almost all hyperinflation events have been caused by government budget deficits financed by currency creation. In 2020 the U.S. Budget deficit reached $3655 billion a 3.7 fold increase over the previous year.
Like all fiat currencies, it was always inevitable that the greatest scam in the history of humanity would end like this, but the forced closure of the global economy, blamed on coronavirus, has triggered hyperinflation to commence. It is now a race to the bottom, where the central banks of countries around the globe print their currency into oblivion. Except in this day and age the printing part is no longer necessary, they simply change a number on a centralized banking database which makes it easier than ever to debase a currency.
By looking at the M2 Money Stock chart, it is evident we have begun the hyperinflation phase; where the government tries to outprint systemic problems. The line on the graph started going parabolic in early 2020, where the total supply of U.S. dollars increased by over 20% in a 6 month period. This means that 20% of everyone’s savings have been silently stolen, as the purchasing power of their dollars becomes less. This will only continue exponentially in the following months and years.
If you want to know how this ends, there are recent examples of currency debasement that took place in Venezuela and Zimbabwe. At the end of 2019 for example, inflation in Venezuela was estimated by the IMF to be 10,000,000%. If it took you 15 minutes to drink a cup of coffee, a second coffee would be 285% more expensive. In Zimbabwe, the cost of goods and services doubled every day. The currency becomes worthless to the point where people are discarding it on the street like trash, people start turning the paper currency into bags or other items which they can trade for something of value.
This doesn’t just destroy businesses and economies who rely upon this currency, but it leads to mass starvation among the population. People cannot afford to eat and their desperation will lead to increased violence and crime. For survival, Venezuelans got to the point of stealing animals from the zoo to eat. While Venezuela and Zimbabwe are isolated cases, debasing the U.S. dollar has global ramifications. Without exception, all fiat systems end this way.
While fiat is at its end, we have the solution: Bitcoin Cash. What is needed is a better form of money and the collapsing U.S. dollar is the best adoption opportunity ever to become P2P electronic cash for the world. No other currency, crypto or otherwise can do this.
But the time we thought we had to achieve global adoption has been slashed to at least 25% and will likely be slashed further in the coming months. We must act quickly, else our fellow humans will suffer more than necessary. Or even worse, the same people who orchestrated this scam will herd the global population into their “solution”, where unaccountable governments are certain to repeat the same mistakes all over again. We need to return power to the people and Bitcoin Cash is the hope that will enable us to do so.
Bitcoin Cash was created by Satoshi Nakamoto for a specific purpose. On the 3rd of January, 2009, a message was included in the Genesis Block which read “Chancellor on brink of second bailout for banks”. This was the news headline from that day's edition of “The Times” Newspaper, in reference to the financial crisis of 2008 where the big banks were bailed out by government money printing. The message made clear our mission statement, it is to replace the corrupt legacy financial system and provide the world with the most ideal form of money ever known. Bitcoin Cash.