![Face Value [1500x500 - 145KB]](https://pic8.co/sh/YvT9Lx.png){kind=link}
It is a shit analogy because crypto had less oversight than the federal reserve which at the very least reports how much currency they print. It is far more volatile, much harder to transact with, much less secure than cash, and that is just the tip of the iceberg.
Crypto is not a currency. It is literally less valuable as a currency than chuck-e-cheese tokens.
It's 2022. People still talk about companies "printing money"? I have not used cash in 40 years. Who does today? Money is just fake zeros and ones in computers. No printing needed.
So in 1982 what were you paying for things with?
Debit card. I was paid direct deposit too.
Literally no one thinks that "printing money" is a literal term. But it is a much better analogy of what is going on than the term "expanding the money supply" which implies that everyone's wallet is equally expanded.
They do in fact forge new money from nothing for themselves and spend that money. Initially buying bonds from the government in an egg shell game that creates the illusion that the government is getting that money to spend. Then they sell those bonds and keep that cash, or rather buy up real assets.
They in effect printed money. They did not cause every dollar to turn into 2 dollars.
So "printing money" is the most accurate way to describe what is happening.
It's not accurate if it is wrong.
(post is archived)