What a crazy past two years for centralized banking to amplify inflation by printing more money. Brrrrr goes the printer and outcomes the dollar bills. With Biden, it's gone really into overdrive with all his new spending going on. The US is hugely in debt to the central bankers.
Most people don't really understand or care much about inflation or the increase in the money supply. That is, until prices start rising. They might not understand how it happens, they pay attention when it costs them more to buy stuff. And yes, prices are on the rise and have been for the past year.
Staples like corn, soybeans and wheat are at multiyear highs, with corn alone having almost doubled since January 2020. It's not just food, the price of copper and steel have reached all-time highs relative to the past few decades. When it comes to wood, the price of lumber has gone up by a factor of 4X since the beginning of 2020, and doubled since January of this year.
Houses are blowing up too, with the market rising some 17% from last year. Cars are up in price by nearly as much as well, with 9% up since January.
To get a picture of the increase in money supply, it's blown up by 32% in the past 17 months!!! All due to the government spending craze. Get ready for a wild ride ahead. But not according to the government, because they say everything is under control. Central planners and their delusions of trying to control things they can't.
I wonder how long until people realize their paper money is going to be worthless lie in previous hyperinflation events in history? Will crypto become a safe haven and see a sure from mainstream?
If masses come into crypto, that sends prices soaring. You might have people selling, but into what? A stable coin based on the USD value which will be decreasing? Maybe inflation of the USD isn't going to do much and it won't matter and everything will be fine. Keep spending everyone! :P