Read MoreThe overwhelming consensus is going to pop up alittle bit and then go back down no one's talking about this great great you know the data showsthat most of the price increases we've seen are were expected and expected to be temporary there'snobody suggesting there's non-sex inflation on the way it's on highly unlikely that's going tobe long-term inflation that's going to get out of hand i don't know anybody who's worriedabout inflation president biden this afternoon saying he thinks we're at the peak of the crisisright now and that lower prices are on the way the inflation has everything to do with thiselection make no mistake inflation is largely the fault of putin i'm going to do everything i can tominimize putin's price hike here at home welcome back everybody to altcoin daily you subscribefor daily videos everything going on in the world.
How it relates to cryptocurrency news opinionperspective this is why you subscribe it's no secret that inflation is hitting regular workingpeople like you like me the hardest it ever has the highest inflation in 50 years gas prices areup food prices are up consumer goods are up what else has increased in price without increasingin value so much it seems like this inflation which is hurting all of us particularly theworking class who caused it who's at fault if you ask joe biden who's at fault for inflationhe'd say putin or capitalism or maybe trump joe biden would never take responsibility forsomething like this i'm sick of this stuff have to talk about it because the american peoplethink the reason for inflation is government spending more money simply not true so who'sreally at fault for all of this inflation which is.
Hurting all of us inflation is made in washingtonbecause only washington can create money and any other attribution of two other groups ofinflation is wrong consumers don't produce it don't produce it the trade unions don't produce itforeign sheiks don't produce it oil imports don't produce it what produces it is too much governmentspending and too much government creation of money and nothing else the government joe bidenwashington the federal reserve what makes it worse is that they lied to us about all of this as itwas happening they said inflation wouldn't happen they said it was transitory do you rememberthis i really doubt that we're going to see an inflationary cycle most economic analystsbelieve that it will have a temporary transitory impact faster than expected increase in someof those prices is actually a good sign the.
Overwhelming consensus is going to pop up a littlebit and then go back down no one's talking about this great great thing this is somethingthat will uh settle down transitory transit and the data shows that most of the priceincreases we've seen are were expected and and expected to be temporary there's nobody suggestingthere's none checked inflation on the way it's highly unlikely that it's going to be long-terminflation that's going to get out of hand i don't know anybody who's worried about inflation overthe last couple of months we actually saw it trended downwards president biden's chief of staffron klain enthusiastically retweeted an economist who had said in part most of the economic problemswere facing inflation supply chains etcetera are high class problems what is the grand homeplan to increase oil production in oh america god.
That is hilarious well the number one thingthat the president can do is help get covenant under control that we know is the root cause ofinflation president biden this afternoon saying he thinks we're at the peak of the crisis rightnow and that lower prices are on the way the inflation has everything to do with this electionmake no mistake inflation is largely the fault of putin i'm going to do everything i can to minimizeputin's price hike here at home if you want to get rid of inflation the only way to do it is to umundo a lot of the trump tax cuts ever since you've come into office things are really looking up youknow gas is up rent is up food is up everything inflation is the fault of the money printeris the fault of the government is the fault of the federal reserve it's the fault of uncheckedpower from the few dictating policy for the many.
For us because they can print as much as they wantany time they want and we will be the last to know about it opting into bitcoin takes power awayfrom them bitcoin's hard open monetary policy cannot be debased and the monetary policy is knownby everyone forever inflation is a problem what's the real inflation numbers they say 9.1 percent doyou believe them what if instead of talking about that 9.1 percent inflation the media acknowledgesthe true rate of inflation which is at least 18 percent american workers are experiencingunprecedented declines in their real incomes which is why record numbers have been forced to workmultiple jobs to make ends meet the real inflation rate is probably closer to 37 percent 9.1 percentis the number they lied to us with groceries are up 12 percent gas is up 60 percent utilities up 40percent the average of those numbers is 37 percent.
Not 9.1 so these are the real inflation numbersthat the government doesn't want you to know about and even these numbers are probably actually lowerthan the actual real inflation rate this could get real rough real fast so what are people doinginflation hitting us all around the world what is the move well short-term thinkers are runningto the u.s dollar that's why the u.s dollar has been going up in the short term long-term thinkersare running to bitcoin for instance billionaire thomas peterfy owns bitcoin and plans to buy morebitcoin despite concerns that bitcoin could become worthless or outlawed you know how the mediadrums that narrative up well he's not deterred this is the story on why he's turning to bitcoinin times like this billionaire thomas peterfie shared his outlook for bitcoin and the useconomy in an interview with forbes last week.
If you're unfamiliar pedrafee is the founder andchairman of the board of directors of interactive brokers an online trading platform his networth is currently about 18.4 billion according to forbes list of billionaires by the wayinteractive brokers offers cryptocurrency trading anyways the billionaire said in january thatit is prudent for investors to have two percent to three percent of their personal wealth incryptocurrencies just in case fiat currency quote goes to hell in july last year he revealed thathe is holding some bitcoin stating that there's a small chance that this will be a dominantcurrency so you have to play the odds he told forbes last week that he still believes in bitcoinhe still believes it could become very valuable despite the recent crypto market sell-off andhe added that he is still holding some bitcoin.
And plans to buy even more if the price dipsdown lower stating he would buy more at twelve thousand dollars because bitcoins looking realgood bitcoins monetary policy and inflation rate compared to the strongest fiat currency in theworld the us dollar bitcoins looking real good so let's talk about bitcoin's monetary issuance let'stalk about bitcoin's monetary policy and inflation rate today the annual inflation rate of bitcoin is1.72 one year ago from today the annual inflation rate of bitcoin was 1.69 good luck getting thislevel of predictability from a central bank issued currency and regular people like you likeme are the ones that bitcoin can help the most because it is inflation that affects us the mostthe wealthy are the least affected by inflation because they hold very little fiat money relativeto their investable assets relative to their.
Percentage of their net worth most of their networth is investable assets it's the lower income workers who suffer the most from this regressivestealth tax we're talking about inflation the affordability of goods as a percentageof your net worth is what defines how wealthy you are so bitcoin's 1.72 inflation rate lookseven more appealing now high inflation numbers from all around the world point towards rapidcurrency debasement and when you take a look at all countries inflation over 15 percent thecountries that this is happening to is staggering i know i know well if bitcoin's such a good hedgeagainst inflation how come it's been going down first of all zoom out think more big picture thinkmore long term second of all people dunking on bitcoin because it hasn't outperformed the dollarduring high inflation or forgetting one important.
Thing bitcoin will go back up the dollar only goesdown so my question to you is how can you afford not to own some bitcoin at this point in timeofficial inflation numbers are about 9.1 percent if you save like the government wants you to doin an official savings account from your bank your bank yields 1.5 percent you're not winningin this scenario and they continue to lie to our faces about it there is no inflation inflationis transitory inflation is good for you inflation will only hurt the rich inflation is consumersfault inflation is greedy businesses fault inflation is putin's fault inflation is backwardslooking breadlines are a great way to meet people breadlines are a great way to meet people so ifyou have a long-term outlook like i do bitcoin needs to be part of your portfolio that's myopinion not financial advice but when it comes.
To the cryptocurrency market in general how canyou not be excited the genie is out of the bottle big things are happening in the space ethereumjumps 12 as the merge to proof of stake draws nearer september 19th mark your calendarethereum is outperforming in the market this weekend after a 12 surge and is currentlytrading at around 1 355 for one ethereum and speaking of some of the blue chip crypto projectseven in a down market uniswap trading volumes are only down eight point seven percent only eightpercent compared to previous quarters so people are still opting in to use uniswap and by theway uniswap on ethereum layer 2 polygon optimism were two networks which actually increased theirtrading volumes in q2 so big things are happening in the space this is why you subscribe to ourchannel because we clue you in on a daily basis.
Things the mainstream media will never report toyou and if they do they never provide you with any kind of context or perspective so subscribe tothe channel join our team smash the like button if you got value today check out our panelin austin texas for a decentral conference talking about web 3 in hollywood and with thatbeing said my friends i will see you tomorrow