“There Is An Infinite Amount Of Cash At The Federal Reserve”
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said Sunday night on 60 Minutes that “there is an infinite amount of cash in the Federal Reserve. We will do whatever we need to do to make sure there’s enough cash in the banking system.” For some of us, this confession may be an eye-opener. For others, we’ve come to realize that the Fed has always had this power. We can only hope that with the amount of attention the dollar is getting in the media these days, that more people are beginning to ask themselves why we still assume this government funny-money still has value. Read More
Unprecedented Monetary Territory
As Travis Kling points out below, the financial markets are in unfamiliar territory right now. Governments and central banks have never taken such drastic action to keep markets afloat. There’s no telling whether or not their efforts will be successful, but history tells us that such intervention in the markets eventually comes to an ugly end. Whether that takes several years or several more decades is anyone’s guess.
Whose Money Is It Anyway?
"It’s our money; we are the ones, it’s our currency." (Source) Those words came from President Trump this week after being asked about QE4 (Quantitative Easing Round 4) and whether or not it would be effective in saving the economy. And he’s right, the US Dollar is the central bank’s money. It’s not the people’s money. The dollar in your pocket or your bank account is a Federal Reserve Note, a piece of debt with a claim to something of value at the bank. What that note actually represents is a promise from an institution. An institution we’re told to trust with our wealth. An institution that admitted to having infinite money.
“Don’t Trust, Verify.”
Bitcoin, on the other hand, is actually your money. You don’t have to trust any institution, politician, central banker, or orange spray-tanned man named Trump. You can verify the total money supply and rest assured knowing it isn’t being inflated to the tune of a $6 Trillion bailout. You can verify your money on the blockchain.
45 Days Til The Bitcoin Halving
The blocks continue to tick off and we’re getting extremely close to the next Bitcoin halving. As central banks increase the rate of new money, Bitcoin is about to decrease the rate of new money. 2020 will be an exciting year for Bitcoin.
Week of March 23-27
The index ranged from 8-14, remaining low with current uncertainty in the market.
The BTC price continues to range between $5,700 and $6,900.