Quote from: fonship on Today at 06:53:03 PM

It's funny but it's true. If US print money, other currencies lose value. That's by design in the current financial system. And that's why we are in crypto to bring the new age financial and monetary system for the future.

Yep, it's literally the opposite of what most gold bugs and BTC investors think:

Illuminating thread on this subject: https://twitter.com/RaoulGMI/status/1254110879479746562

Basically, it's due to the global debt bubble, which is mostly denominated in USD. As deflation hits, cash flows decline, leading to a game of musical chairs as debtors need to exit their local currencies to service their USD debts. This could have a crippling effect on emerging economies if global recession becomes global depression.

Unfortunately for Americans who are out of work and can't make the rent, this doesn't equate to a blank check on fiscal debt. There are fears of Japanification. Republicans are stonewalling spending on the fiscal side, the only thing that can bring real economic relief to regular people absent a miraculous V-shaped recovery. That only leaves Fed meddling: cheap credit for banks (as banks tighten credit for consumers) and pumping bailout money into zombie companies. Roll Eyes

The situation is fucked for everyone. All we can do is hope the economic downturn isn't as bad as feared.