Blogs & Articles: A Decade of Dollar Denominated Debasement Debauchery 🔗 3 years ago

01/Nov/2008–-A pseudonym of unknown nationality sent an email carrying word of Bitcoin, a peer to peer electronic cash system with no trusted third party.

02/Dec/2009 — The New York Times: Recession began last December, economists say.

03/Jan/2009 — The Times: Chancellor on brink of second bailout for banks.

03/Feb/2009 — The New York Times: Bailout Plan: $2.5 Trillion and a Strong U.S. Hand

Since that January 2009 Genesis bitcoin block and the global financial crisis that spurred the Bitcoin network’s creation, historical central bank monetary expansion has occurred for the United States Dollar under the Obama and Trump administrations as well as the Bernanke, Yellen, and Powell Federal Reserves.

https://en.wikipedia.org/wiki/Janet_Yellen

The United States Dollar, the current reserve currency for many of the central banking regimes across the world, is being debased at record pace having multi-order effects on the rest of the world. Still, due to wide acceptance as a reserve currency, the USD is the fundamental unit of account for much of the world’s financial systems and international settlement markets, see the Petrodollar. Despite this debasement, the supply of other major national fiat currencies has also increased as measured in that debased U.S. Dollar.

It would appear that it wasn’t only the United States and the United Kingdom that have ran rampant with their money supplies over the previous decade. When measured in the widely accepted global reserve currency, USD, every G20 member nation has expanded their money supply since 2010, some much more than others.

https://en.wikipedia.org/wiki/2019_G20_Osaka_summit

The combined nations of the G20 have issued roughly $45 Trillion in USD equivalent money stock during the 2010s decade, expanding the M2 money in circulation by 92% at the start of the decade over only ten years.

https://en.wikipedia.org/wiki/2010_G20_Seoul_summit

The United States central bank, the Federal Reserve, expanded the money supply by a total of $10.3 Trillion in USD equivalent money stock during the decade, increasing the M2 money in circulation at the start of the 2010 by 117%, in only ten short years.

https://en.wikipedia.org/wiki/Steven_Mnuchin

The Bank of England expanded the Crown’s Royal money supply by a total of $638 Billion in USD equivalent money stock during the 2010 decade, issuing only 21% of the M2 money in circulation at the start of the decade over only ten years. Interestingly “Chancellor on the Brink” England appears to have been one of the more responsible central banks over the previous decade.

https://en.wikipedia.org/wiki/Andrew_Bailey_(banker)

The European Union, the European Central Bank, and associated member nations have issued roughly $5.8 Trillion in USD equivalent money stock during the 2010s decade, expanding their collective money supply by 57% over the last 10 years.

https://en.wikipedia.org/wiki/Christine_Lagarde

The Swiss and their national bank have increased their CHF money supply roughly $183 Billion in USD equivalent money stock during the 2010s decade. The Swiss, stereotypically savvy, expanded their money supply by only 19% or so over the last 10 years.

https://en.wikipedia.org/wiki/Thomas_Jordan_(economist)

The Royal Bank of Canada has increased their $CAD money supply roughly $623 Billion in USD equivalent money stock during the decade. The Canadians, expanded their money supply by almost 64% over the last 10 years.

https://en.wikipedia.org/wiki/Tiff_Macklem

The Reserve Bank of Australia has increased the $AAD money supply roughly $684 Billion in USD equivalent money stock during the decade. The Australians down under expanded their money supply by almost 67% over the last 10 years.

https://en.wikipedia.org/wiki/Philip_Lowe

The Bank of Japan has increased their money supply roughly $2.78 Trillion in USD equivalent money stock during the decade. The Japanese expanded their money supply by 25% over the last 10 years.

https://en.wikipedia.org/wiki/Haruhiko_Kuroda

The Central Bank of Russia has increased the Russian Ruble money supply roughly $308 Billion in USD equivalent money stock during the decade. The Russians expanded their money supply by 71% over the last 10 years.

https://en.wikipedia.org/wiki/Elvira_Nabiullina

The Peoples Bank of China has increased their Yuan money supply roughly $22 Trillion in USD equivalent money stock during the decade. The Chinese expanded their money supply by 199% over the last 10 years, more than tripling the circulating supply at the beginning of the decade.

https://en.wikipedia.org/wiki/Yi_Gang

What about gold during all of this nonsensical monetary madness across the G20 and Globe? Well, roughly about 197,576 tonnes. The increase valuation of all the estimated above ground gold during the decade as measured in USD increased by about $2.7 Trillion, an roughly 32%. Even the Bank for International Settlements favorite shiny metal can’t hold a candle to the all mighty Satoshi of the bitcoin network.

https://en.wikipedia.org/wiki/Agust%C3%ADn_Carstens

The 2010s may well be defined as a decade of continuing central banksters monetary undermining and abuse of trust they unduly earned during the previous Global Financial Crisis.

Dollar plummets on U.S. stimulus hopes; bitcoin hits all-time peak

30/Nov/2020 — Reuters: Dollar plummets on U.S. stimulus hopes; bitcoin hits all-time peak

Gold and Bitcoin increases in market capitalization as measured in $USD over the decade stacked up against the digital, cotton, and linen fiat paper currency issuances of the major G20 governments.

How scarce is your money?

https://bitcoin.org

A Decade of Dollar Denominated Debasement Debauchery was originally published in Block Digest Mempool on Medium, where people are continuing the conversation by highlighting and responding to this story.