The New York Times 2 / December / 2008: “US recession started last December, economists say”
The Times 03 / Jan / 2009: “Chancellor on Brink of Second Bailout for Banks”
The New York Times 3 / Feb / 2009: “Bailout Plan: $ 2.5 Trillion and a Strong American Hand”
The 12 years since those headlines, that January 3, 2009 Genesis bitcoin block and the global financial crisis that spurred the creation of the Bitcoin network, are determined by the historical monetary expansion of the central bank. The delivery of the US dollar to the three different presidents of the Obama and Trump administrations – Bernanke, Yellen and Powell – has increased enormously.
To see why this increase in supply is significant, it is important to understand that the dollar is detained as the predominant reserve currency for many of the central bank regimes around the world. Because of this important reserve status, the USD is often the basic unit of account for many of the world’s financial systems and international settlement markets, for example in many oil markets with the petrodollar.
However, it appears that other central bank regimes are also increasing the supply of their own local currencies, even against the USD. The metric and reserve tool that these people use is being cut, but despite this, they are simultaneously lowering their local currency at record rates over the past decade.
This gluttony of the money supply of multinational banks appears to have multi-order effects on the rest of the world. Despite all this lustful humiliation and greedy central banker malpractice, the Bitcoin network continues to validate and verify peer-to-peer digital scarcity.
Beyond the United States and the United Kingdom (“Chancellor on the Brink”), which have been rampant with their money supplies over the past decade, let’s see the major currencies in the G20, an international forum and group of central bank governors from 19 different countries and the EU.
The G20 was originally a group of major central bankers created in 1999, and since their expansionary policies culminated 12 years ago in what is now considered the 2008 GFC – Global Financial Crisis, these people have been responsible for the greatest monetary expansion in human history. Measured in the predominant global reserve currency, the US dollar, every G20 member state has expanded its money supply since 2010, some much more aggressively than the other.
The combined nations of the G20 spent about $ 45 trillion in value on money in the decade of 2010, expanding the collective G20 M2 money in circulation at the start of the decade by 92 percent in just 10 years. Money for nothing, politically free.
The central bank of the United States, the Federal Reserve, the money supply expanded by a total of $ 10.3 trillion during the decade, bringing the M2 money supply in circulation by 117 percent at the beginning of 2010, in just 10 short years. According to the 1517 Nicolaus Copernicus quantity theoryis the general price level of goods and services directly proportional to the amount of money in circulation. Currently the main central bank star of the United States Jerome Powell.
The bank of England expanded the Crown’s royal money supply in the decade of 2010 by a total of $ 638 billion in equivalent money supply, spending only 21 percent of the M2 money in circulation at the start of the decade in just 10 years . Interestingly enough, “Chancellor on the Brink” England seems to be rapidly approaching pound / satoshi parity. The current UK central bank star is responsible for this Andrew Bailey.
The European Union, the European Central Bank and associate member states spent about $ 5.8 trillion in cash equivalents in the decade of 2010, expanding their collective money supply by 57 percent over the past 10 years. The current main central bank star of the European Union is Christine Lagarde.
The Swiss and their National Bank have increased their money supply in CHF by approximately $ 183 billion in cash reserves in the decade of 2010. The Swiss, stereotypically savvy, have expanded their money supply by just 19 percent or so over the past 10 years. The current main Swiss central bank star is Thomas Jordan.
The Royal Bank of Canada has increased the money supply of $ CAD by approximately $ 623 billion in equivalent cash supply over the past decade. The Canadians have expanded their money supply by nearly 64 percent in the past 10 years. The current main Canadian central bank star is Tiff Macklem.
The Reserve Bank of Australia has increased the money supply of $ AAD by approximately $ 684 billion in USD equivalent over the decade. The Australians down under have increased their money supply by nearly 67 percent over the past 10 years. Auzzie’s current central banker is Philip Lowe.
The Bank of Japan has increased its money supply by about $ 2.78 trillion in equivalent money supply over the decade. The Japanese have expanded their money supply by 25 percent over the past 10 years. The current main Japanese central bank star is Haruhiko Kuroda.
The Central Bank of Russia has increased the Russian ruble’s money supply by about $ 308 billion in equivalent cash supply over the decade. The Russians have increased their money supply by 71 percent in the past 10 years. The current main Russian central bank star is Elvira Nabiullina.
The People’s Bank of China has increased its yuan money supply by about $ 22 trillion of equivalent money supply over the decade. The Chinese have expanded their money supply by 199 percent over the past 10 years, more than tripling at the start of the decade. The current main Chinese central bank star is Yi Gang.
What about gold in all this nonsensical monetary madness in the G20 and the world? Good, about An estimated 197,576 tons of gold is above ground. The appreciation of all estimated above-ground gold over the decade, measured in USD, was up about $ 2.7 trillion, and about 32 percent. Even the Bank for International Settlements(BIS) favorite shiny metal cannot hold a candle to the all-powerful satoshi of the bitcoin network. The current principal banker at the BIS is Agustin Carstens.
The 2010s can very well be defined as a decade of continuous monetary undermining of the central bankers and the misuse of trust they falsely earned during the previous global financial crisis.
How scarce is your money?
This is a guest post from Tyler Bain. The views expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.