Listen, the Crypto Crash Is Just the Beginning
For an ‘Everything Bubble’ that deflates, an ‘Everything Recession’ brews.
For a year and a half, money rained down from the sky. Bitcoin and gold surged. Stocks skyrocketed, and cryptos went to the moon.
All thanks to a manipulated economy.
The Federal Reserve’s quantitative easing has placed interest rates near-zero and provided unprecedented liquidity in the markets–more than 4.5 trillion in stimulus to Congress.
Someone called it “the crazy fiscal and monetary policy” since the Federal Reserve Board’s establishment, with analysts accusing central banks of creating “fake markets.” In 2020, in just eight weeks in which central banks pumped $4 trillion in asset purchases, global market capitalization rose by $15 trillion.
At the same time, Congress approved the largest federal money stimulus to the U.S. economy: more than $5 trillion as support for the ongoing pandemic. About $1.8 trillion went to families and individuals and nearly as much to businesses to support the blows inflicted by COVID-19.
Without this mix, the economy would have already collapsed, economists argue. Instead, the gears of the distressed markets started turning smoothly again. But this also helped create financial…
