It's that time of the quarter again; Matthew Mežinskis from the Crypto Voices podcast (which focuses on bitcoin) has released the Q2 2021 monetary base update. As always, the thread is incredibly thorough and filled with incredible detail about the current state of global base monies. Right now, bitcoin is holding steady as the sixth largest base money on the planet (when gold and silver are taken out of consideration, seventh when they are considered), which is exactly where it stood at the end of Q1 this year.
While it didn't climb up the list at all, it is very encouraging to see bitcoin holding strong in the top ten. Normalizing itself as a force that is here to be reckoned with and respected on the global stage. Despite a ~20% decline in price between the end of Q1 and Q2, the newest base money held its ground. Even as central banks and governments around the world continued to print insane amounts of money.
The global monetary base is almost 5x what it was in 2008. The amount of monetary units that have been produced ex-nihilo equate to almost $24 TRILLION USD. It doubled between 2008 and 2011 and then again between 2011 and 2020, jumping from $6T to $12T and then $12T to $24T. It is currently approaching $28T with some authority.
Ask yourselves, freaks. Have prices materially changed since 2008? Are your energy costs, food bills, healthcare costs, education costs and other expenses more than they were in 2008? Do you think that maybe this ungodly expansion of the global monetary base had any affect on those prices? Want to be able to opt-out of forced time theft via price inflation driven by the expansion of monetary bases around the world?
Bitcoin provides that opportunity. You should take advantage of it. On top of that, you should tell others about the lifeline they have available to them.
I'll be recording an episode of Tales from the Crypt with Matthew tomorrow morning to discuss this report. Be on the lookout for that.
Thunder storms and screen doors.