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cuddaloreappu (OP)
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February 27, 2015, 04:15:24 AM |
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http://www.theguardian.com/business/2015/jan/22/ecb-quantitative-easing-1-trillion-eurosStarting next month the European central bank will give 60 billion every month upto one trillion to the top 1% making them more wealthy so that they can buy luxury yatch, gift ferrari to their mistress.. now what can we do? just whine and go to sleep!you can't do anything! they will become more rich and rich and the economy will be fucked up as usual. Lets do something useful! instead of convincing the merchants and useless people to accept bitcoin lets find out and convince the 1% to have some wealth diversification into bitcoin, with the free money the bank is handing them.. By that we can go to moon soon!
http://newsbtc.com/2015/02/25/quantitative-easing-bitcoin/
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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solex
Legendary
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Activity: 1078
Merit: 1002
100 satoshis -> ISO code
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February 27, 2015, 04:40:36 AM |
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Starting next month the European central bank will give 60 billion every month upto one trillion to the top 1% making them more wealthy so that they can buy luxury yatch, gift ferrari to their mistress..
Come on, don't forget the trickle-down effect. Mistress wrecks Ferrari tyres on roadside kerbs. Buys new ones for $20k, Indonesian rubber factory gets another order, factory worker gets paid $17, worker pays 99c for a gaming app, Western software designer earns 5c. QE works! |
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cuddaloreappu (OP)
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February 27, 2015, 04:45:18 AM |
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Starting next month the European central bank will give 60 billion every month upto one trillion to the top 1% making them more wealthy so that they can buy luxury yatch, gift ferrari to their mistress..
Come on, don't forget the trickle-down effect. Mistress wrecks Ferrari tyres on roadside kerbs. Buys new ones for $20k, Indonesian rubber factory gets another order, factory worker gets paid $17, worker pays 99c for a gaming app, Western software designer earns 5c. QE works! Well I am not blaming QE, just wish that some billions are used for buying and HODling bitcoins |
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Q7
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February 27, 2015, 02:40:56 PM |
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But how to convince them? If only a fraction agrees, that would be something big to help bitcoin. That is what I hate about QE. It's all about making the rich getting richer while the poor will only get poorer. In a way or another, if you can't beat them, then just join them. That's the way on how I see it goes on to right now.
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johnyj
Legendary
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Activity: 1988
Merit: 1012
Beyond Imagination
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February 28, 2015, 02:42:17 AM |
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They are even buying corporate bonds, means all-out buying every debt that they can buy (and become the master slaveholder), but since bitcoin is not debt, they might not be interested
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eizh
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February 28, 2015, 05:29:13 AM |
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That is what I hate about QE. It's all about making the rich getting richer while the poor will only get poorer.
No, it makes equity holders richer. But almost everyone is an equity holder, whether they realize it or not -- pension funds. |
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polynesia
Legendary
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Activity: 1358
Merit: 1000
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March 01, 2015, 12:10:05 AM |
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That is what I hate about QE. It's all about making the rich getting richer while the poor will only get poorer.
No, it makes equity holders richer. But almost everyone is an equity holder, whether they realize it or not -- pension funds. Richer in terms of paper wealth. Quantitative easing increases stock prices, but does not automatically create value. |
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polynesia
Legendary
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Activity: 1358
Merit: 1000
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March 01, 2015, 05:00:17 AM |
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They are even buying corporate bonds, means all-out buying every debt that they can buy (and become the master slaveholder), but since bitcoin is not debt, they might not be interested
The Fed is not buying corporate bonds, only long term mortgages and Treasuries. They do hold inventories of commercial paper, but those are insignificant. The direct lending to financial institutions is all wrapped up. Even with purchase of mortgages/treasuries, there is in effect infusion of fiat in the economy. This will result in all asset classes, including Bitcoin, receiving a boost. |
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countryfree
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Activity: 3052
Merit: 1047
Your country may be your worst enemy
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March 01, 2015, 02:38:41 PM |
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US Federal Reserve has been doing QE for years, and nobody sees any relation with BTC's value.
I don't expect any change because of this.
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I used to be a citizen and a taxpayer. Those days are long gone.
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polynesia
Legendary
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Activity: 1358
Merit: 1000
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March 01, 2015, 11:58:22 PM |
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US Federal Reserve has been doing QE for years, and nobody sees any relation with BTC's value.
I don't expect any change because of this.
The effects will be felt over the long term. The Euro has already depreciated against the dollar since QE was announced. The swiss central bank was forced to remove the peg against the Euro.  |
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johnyj
Legendary
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Activity: 1988
Merit: 1012
Beyond Imagination
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March 02, 2015, 02:48:41 AM |
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US Federal Reserve has been doing QE for years, and nobody sees any relation with BTC's value.
I don't expect any change because of this.
When QE stopped, bitcoin price crashed, there is definitely a relation between them. Actually when QE stopped all the commodities' price crashed |
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johnyj
Legendary
Offline
Activity: 1988
Merit: 1012
Beyond Imagination
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March 02, 2015, 02:51:37 AM |
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They are even buying corporate bonds, means all-out buying every debt that they can buy (and become the master slaveholder), but since bitcoin is not debt, they might not be interested
The Fed is not buying corporate bonds, only long term mortgages and Treasuries. They do hold inventories of commercial paper, but those are insignificant. The direct lending to financial institutions is all wrapped up. Even with purchase of mortgages/treasuries, there is in effect infusion of fiat in the economy. This will result in all asset classes, including Bitcoin, receiving a boost. It's been 7 years already. The currency component of M0 has not changed from its long term variance. Velocity collapsed after the US government disfigured the financial structure. That is what the added monetary supply is compensating for. Inflation is about to become deflation. They are about to add too little money to the economy. QE has done nothing except flatten the yield curve, flat and inverted ones usually only reserved for recessions. With this much buffoonery, they are still accused of having a monolithic master plan with an iron grip on our lives? They aren't the enemy to us having an ideal currency. They will be swept away by Schumpeter's gale and forgotten. I mean ECB, not FED. Anyway it is all a number game they play, and people are getting suspicious about this game day by day, don't know how long they can hold |
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