the overwhelming consensus is going to pop up a little bit and then go back down no one's talking
about this great great you know the data shows that most of the price increases we've seen are
were expected and expected to be temporary there's nobody suggesting there's non-sex inflation on the
way it's on highly unlikely that's going to be long-term inflation that's going to get
out of hand i don't know anybody who's worried about inflation president biden this afternoon
saying he thinks we're at the peak of the crisis right now and that lower prices are on the way
the inflation has everything to do with this election make no mistake inflation is largely the
fault of putin i'm going to do everything i can to minimize putin's price hike here at home welcome
back everybody to altcoin daily you subscribe for daily videos everything going on in the world
how it relates to cryptocurrency news opinion perspective this is why you subscribe it's no
secret that inflation is hitting regular working people like you like me the hardest it ever has
the highest inflation in 50 years gas prices are up food prices are up consumer goods are up what
else has increased in price without increasing in value so much it seems like this inflation
which is hurting all of us particularly the working class who caused it who's at fault
if you ask joe biden who's at fault for inflation he'd say putin or capitalism or maybe trump
joe biden would never take responsibility for something like this i'm sick of this stuff
have to talk about it because the american people think the reason for inflation is government
spending more money simply not true so who's really at fault for all of this inflation which is
hurting all of us inflation is made in washington because only washington can create money and
any other attribution of two other groups of inflation is wrong consumers don't produce it
don't produce it the trade unions don't produce it foreign sheiks don't produce it oil imports don't
produce it what produces it is too much government spending and too much government creation of
money and nothing else the government joe biden washington the federal reserve what makes it worse
is that they lied to us about all of this as it was happening they said inflation wouldn't happen
they said it was transitory do you remember this i really doubt that we're going to see
an inflationary cycle most economic analysts believe that it will have a temporary transitory
impact faster than expected increase in some of those prices is actually a good sign the
overwhelming consensus is going to pop up a little bit and then go back down no one's talking about
this great great thing this is something that will uh settle down transitory transit
and the data shows that most of the price increases we've seen are were expected and and
expected to be temporary there's nobody suggesting there's none checked inflation on the way it's
highly unlikely that it's going to be long-term inflation that's going to get out of hand i don't
know anybody who's worried about inflation over the last couple of months we actually saw it
trended downwards president biden's chief of staff ron klain enthusiastically retweeted an economist
who had said in part most of the economic problems were facing inflation supply chains etcetera
are high class problems what is the grand home plan to increase oil production in oh america god
that is hilarious well the number one thing that the president can do is help get covenant
under control that we know is the root cause of inflation president biden this afternoon saying
he thinks we're at the peak of the crisis right now and that lower prices are on the way the
inflation has everything to do with this election make no mistake inflation is largely the fault of
putin i'm going to do everything i can to minimize putin's price hike here at home if you want to get
rid of inflation the only way to do it is to um undo a lot of the trump tax cuts ever since you've
come into office things are really looking up you know gas is up rent is up food is up everything
inflation is the fault of the money printer is the fault of the government is the fault
of the federal reserve it's the fault of unchecked power from the few dictating policy for the many
for us because they can print as much as they want any time they want and we will be the last to know
about it opting into bitcoin takes power away from them bitcoin's hard open monetary policy
cannot be debased and the monetary policy is known by everyone forever inflation is a problem what's
the real inflation numbers they say 9.1 percent do you believe them what if instead of talking about
that 9.1 percent inflation the media acknowledges the true rate of inflation which is at least
18 percent american workers are experiencing unprecedented declines in their real incomes which
is why record numbers have been forced to work multiple jobs to make ends meet the real inflation
rate is probably closer to 37 percent 9.1 percent is the number they lied to us with groceries are
up 12 percent gas is up 60 percent utilities up 40 percent the average of those numbers is 37 percent
not 9.1 so these are the real inflation numbers that the government doesn't want you to know about
and even these numbers are probably actually lower than the actual real inflation rate this could get
real rough real fast so what are people doing inflation hitting us all around the world what
is the move well short-term thinkers are running to the u.s dollar that's why the u.s dollar has
been going up in the short term long-term thinkers are running to bitcoin for instance billionaire
thomas peterfy owns bitcoin and plans to buy more bitcoin despite concerns that bitcoin could become
worthless or outlawed you know how the media drums that narrative up well he's not deterred
this is the story on why he's turning to bitcoin in times like this billionaire thomas peterfie
shared his outlook for bitcoin and the us economy in an interview with forbes last week
if you're unfamiliar pedrafee is the founder and chairman of the board of directors of interactive
brokers an online trading platform his net worth is currently about 18.4 billion according
to forbes list of billionaires by the way interactive brokers offers cryptocurrency trading
anyways the billionaire said in january that it is prudent for investors to have two percent
to three percent of their personal wealth in cryptocurrencies just in case fiat currency quote
goes to hell in july last year he revealed that he is holding some bitcoin stating that there's
a small chance that this will be a dominant currency so you have to play the odds he told
forbes last week that he still believes in bitcoin he still believes it could become very valuable
despite the recent crypto market sell-off and he added that he is still holding some bitcoin
and plans to buy even more if the price dips down lower stating he would buy more at twelve
thousand dollars because bitcoins looking real good bitcoins monetary policy and inflation rate
compared to the strongest fiat currency in the world the us dollar bitcoins looking real good so
let's talk about bitcoin's monetary issuance let's talk about bitcoin's monetary policy and inflation
rate today the annual inflation rate of bitcoin is 1.72 one year ago from today the annual inflation
rate of bitcoin was 1.69 good luck getting this level of predictability from a central bank
issued currency and regular people like you like me are the ones that bitcoin can help the most
because it is inflation that affects us the most the wealthy are the least affected by inflation
because they hold very little fiat money relative to their investable assets relative to their
percentage of their net worth most of their net worth is investable assets it's the lower income
workers who suffer the most from this regressive stealth tax we're talking about inflation
the affordability of goods as a percentage of your net worth is what defines how wealthy
you are so bitcoin's 1.72 inflation rate looks even more appealing now high inflation numbers
from all around the world point towards rapid currency debasement and when you take a look
at all countries inflation over 15 percent the countries that this is happening to is staggering
i know i know well if bitcoin's such a good hedge against inflation how come it's been going down
first of all zoom out think more big picture think more long term second of all people dunking on
bitcoin because it hasn't outperformed the dollar during high inflation or forgetting one important
thing bitcoin will go back up the dollar only goes down so my question to you is how can you afford
not to own some bitcoin at this point in time official inflation numbers are about 9.1 percent
if you save like the government wants you to do in an official savings account from your bank
your bank yields 1.5 percent you're not winning in this scenario and they continue to lie to our
faces about it there is no inflation inflation is transitory inflation is good for you inflation
will only hurt the rich inflation is consumers fault inflation is greedy businesses fault
inflation is putin's fault inflation is backwards looking breadlines are a great way to meet people
breadlines are a great way to meet people so if you have a long-term outlook like i do bitcoin
needs to be part of your portfolio that's my opinion not financial advice but when it comes
to the cryptocurrency market in general how can you not be excited the genie is out of the bottle
big things are happening in the space ethereum jumps 12 as the merge to proof of stake draws
nearer september 19th mark your calendar ethereum is outperforming in the market
this weekend after a 12 surge and is currently trading at around 1 355 for one ethereum and
speaking of some of the blue chip crypto projects even in a down market uniswap trading volumes
are only down eight point seven percent only eight percent compared to previous quarters so people
are still opting in to use uniswap and by the way uniswap on ethereum layer 2 polygon optimism
were two networks which actually increased their trading volumes in q2 so big things are happening
in the space this is why you subscribe to our channel because we clue you in on a daily basis
things the mainstream media will never report to you and if they do they never provide you with any
kind of context or perspective so subscribe to the channel join our team smash the like button
if you got value today check out our panel in austin texas for a decentral conference
talking about web 3 in hollywood and with that being said my friends i will see you tomorrow