Could Lockdowns SUPERCHARGE Bitcoin??
While the world is watching what is going on with the US election, we still can't forget that we have a raging pandemic that is, by all accounts, in Wave 2.0 already 🦠
Here in the UK, the government has implemented a country wide lockdown for a month that will close all non-essential businesses. One cannot really comprehend the damage this does to consumer demand and in response, the BoE has printed over *£744 billion* to stimulate the bond markets.
The US is also battling the virus and there are some states that have had to roll back their openings. This is all no good especially as we head into the winter when consumer demand is paramount.
So, it's pretty clear that there will be some economic damage from any lockdowns or restrictive measures. But, the real damage is not really the lost output (temporary) but what it could mean for the long term health the monetary system…
In my latest video, I take a look at what the Pandemic could mean for the US & global economy and whether the eventual ocean of money could lead to epic levels of inflation. I take you through all of the economic data and explain why this "throw the kitchen sink" approach to monetary policy is toxic 😷
Finally, I then circle back to Bitcoin and why I think that it is the only safe haven asset that can protect you from this dystopian inflationary world we could be on the brink of.
Hope you guys enjoy! 👇
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
⛓️ 🔗 Useful Links 🔗 ⛓️
► US GDP data Q3 2020: https://www.bea.gov/news/2020/gross-d...
► Personal income by State Q2 2020: https://www.bea.gov/news/2020/persona...
► Personal income data Sept 2020: https://www.bea.gov/news/2020/persona...
► Unofficial unemployment could be 25%: https://www.independent.co.uk/news/wo...
► Reopening & closing down of States: https://www.nytimes.com/interactive/2...
► US net exports: https://fred.stlouisfed.org/series/NE...
► New massive gold deposit discovered: https://www.bloomberg.com/news/articl...
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
