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https://hodlhodl.com/join/cryptovoices Matthew updates on the Crypto Voices Monetary Base exhibit for 2019 Q4. This episode will be a lot easier if following along with the tweet thread, which is here: https://twitter.com/crypto_voices/status/1227949623362379778?s=20 Or, you can also follow along with the exhibits here: cryptovoices.com/basemoney Bottom line:
Bitcoin is currently the #9th largest base money in the fiat world.
Bitcoin is currently the #11th largest base money in the fiat world, including past base monies gold & silver. Bitcoin is unquestionably unlike anything else in the (financial) world. However, if you are going to try and compare Bitcoin’s supply with other supply curves in the financial world, don’t. The only money supply you can compare it to is fiat’s “Monetary Base,” or “Base Money.” Firstly, something needs to be used as a medium of exchange to technically be called “money.” Gold and silver used to be.
Fiat is now.
Bitcoin very well could be. But don’t get carried away. We need to compare bitcoin (and gold… and silver) to fiat’s “base money” supply, and *only* to the base money supply. M1/M2/M3 and all others simply aren’t comparable. Why? Because those supplies include “claims” on base money. In this episode, we review the 2019Q4 tweet thread in depth, covering:
1) Some of the economic, seismic changes of China and India;
2) What reserve balances really are, and how we economically look at them;
3) What other bank balances economically are (we are the creditors, banks are the debtors);
4) The methodological changes we’ve made with gold and silver, from using “all-time” gold and silver mined ounces, to using estimated, liquid gold and silver outstanding ounces (bullion plus jewelry);
5) The deeper meaning behind mainstream journalism’s economic assumptions, views, and narratives pushed, versus their effort in actually providing well-thought data to their audience. Listen on to learn more. Links for more info:
cryptovoices.com/basemoney
On a monumental day for our species in the arena of mathematics, it's only fitting to ask what #bitcoin's price would be if it matched other gold & silver stockpile valuations, right??
Isn't this the calculation where it all becomes clear?
The point is to have competition. https://t.co/X12JALmATp pic.twitter.com/4otnFDnlh4
— Matthew Mezinskis (@1basemoney) March 6, 2020
A reminder, NBC & NYT's narrative-pumping journalism casually fed its audience that Bloomberg's beer money is ONLY THREE TIMES ALL THE MONEY IN THE WORLD.
$330 trillion vs. $110 trillion.
Don't take the bait with these folks.https://t.co/6aep8Vw31C pic.twitter.com/tSis5wMsUf
— Matthew Mezinskis (@1basemoney) March 7, 2020
This is the stupidest thing that has ever aired on television. Congratulations to all involved. pic.twitter.com/vARi9yQ0Bv
— Timothy Burke (@bubbaprog) March 6, 2020
Ok, I'm going to do a quick thread addressing one of the most common objections I got here, which is people saying that the repo rate spike last September was the somehow the real market clearing rate, and that the Fed is now "artificially" suppressing the level. /1 https://t.co/rrQANSH6Vp
— Joe Weisenthal (@TheStalwart) February 19, 2020
https://twitter.com/GeorgeSelgin/status/1230119972027932673?s=20 Show sponsor, please use this link to help us out!
https://hodlhodl.com/join/cryptovoices Hosts: Matthew Mežinskis, Fernando Ulrich
Music: New Friend Music newfriendmusic.com/
Site: cryptovoices.com/ Podcast & Information
Cryptoeconomics & Liberty
Thanks for listening! Show content is not investment advice in any way.
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- Source: https://podcasters.spotify.com/pod/show/porkopolis/episodes/CV88-Monetary-Base-Compendium—2019-Q4-e1t6iu0
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