TD₿: Wealth Inequality: Background, Basis, and Bitcoin by Christopher Calicott
TL;DR Bitcoin's monetary policy is a stark reversal from the central bank interventionism that has driven wealth inequality for decades.
Today marks one of the most important days of the year for the stock market, it’s a FOMC meeting day!
I think about how sad it is that markets have become this dependent on the actions and recommendations of a small group of central bankers behind closed doors.
After decades of central bank interventionism, the idea that the stock market is a free market is an absolute farce.
The main driver of stock market returns over the past decade has been Fed policy, and this is more true today than ever before.
What’s worse is that this central bank interventionism increases the wealth inequality that is already at extreme historical levels. Only people who own assets or have good credit benefit from low interest rates and QE.
Christopher Calicott dug into the recent history of central bank interventionism, its effects on wealth inequality, and Bitcoin in this report (07/01/2020).
Bitcoin is the last free market that is not dependent on policy. Bitcoin does not pick winners and losers.
Bitcoin is for everyone.
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Quote of the Day
“Bitcoin number go up means state power go down.” - Stephen Cole, Venture Partner at Trammell Venture Partners
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