- by CryptoHayes cryptocurrency inflation
Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.
As we know, when you stimulate demand with free money, people buy shit. When people buy too much shit, the price goes up. That’s called inflation. Every country in the world is experiencing some sort of goods, food, and/or energy inflation. When the latter two subsets of inflation increase rapidly, the once docile plebes wake up and demand action. They will express it either at the ballot box or in the streets, but regardless, they will be heard.
Of all the types of money printing, the most disastrous for the value of fiat currency – and by extension, society – is YCC. That is because it inherently requires central banks to attempt to fix the price of a multi-trillion-dollar bond market. Central banks that engage in YCC are essentially pledging to infinitely expand their balance sheets such that a particular interest rate metric does not rise above an unnatural ceiling set by the central bank.
The UK has been through some shit over the last three centuries. Pandemics, wars of empire, civil wars, world wars, etc. But even taking all that into account, you can see that the BOE’s recent bout of money printing was its most aggressive EVER!Back to the now, here is how inflation responded – with a bit of a lag – to what has been the most aggressive monetary loosening in the bank’s history.
The chart above clearly shows that energy inflation is a big contributor to the overall pain felt by the plebes.
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