Ngadatangan deui Tweet Hyperinflation Dorsey: Elon, Wood, Saylor, Balaji, Chip In

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Kemis, 4 Nov 2021 1:55

Ngadatangan deui Tweet Hyperinflation Dorsey: Elon, Wood, Saylor, Balaji, Chip In

When the Square mastermind declared hyperinflation was coming to the US, the world shook. With a single tweet, Jack Dorsey lit a fire that keeps on burning. In that first article, NewsBTC compiled the first reactions to this dangerous idea. Then, we told you about Peter Schiff’s unimaginative response. Now, it’s time for the big guns. Ark Invest’s Cathie Wood answered with her deflationary theory, and Elon Musk, MicroStrategy’s Michael Saylor, and notorious financial podcaster Preston Pysh answered. 

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Ogé, pengusaha jeung urut CTO Coinbase, Balaji Srinivasan, threw log tambahan kana seuneu. Anjeunna salah sahiji responders munggaran, nawarkeun ganjaran pikeun desain dasbor inflasi desentralisasi. Salian ti éta, kolumnis Wired Virginia Heffernan nyayogikeun réspon sapertos 1984, sareng majalah Alesan langsung ngawaler anjeunna. 

Tulisan ieu pinuh ku pangaweruh sareng téori anu pikaresepeun pikeun anjeun pikirkeun. Jieun sababaraha popcorn sarta ngarasakeun acara.

This woman doesn’t mince words. “In 2008-09, when the Fed started quantitative easing, I thought that inflation would take off. I was wrong. Instead, velocity – the rate at which money turns over per year – declined, taking away its inflationary sting. Velocity still is falling.” Is she right? Isn’t purchasing power the real victim of the rampant money printing that all governments are engaging in?

In 2008-09, when the Fed started quantitative easing, I thought that inflation would take off. I was wrong. Instead, velocity – the rate at which money turns over per year – declined, taking away its inflationary sting. Velocity still is falling. https://t.co/tFaXSaCKqS

— Cathie Wood (@CathieDWood) October 25, 2021

Let’s read her whole theory before jumping to conclusions. According to Wood, “three sources of deflation will overcome the supply chain-induced inflation that is wreaking havoc on the global economy.” Those are: 

1– “Artificial intelligence (AI) training costs, for example, are dropping 40-70% at an annual rate, a record-breaking deflationary force.”

Nalika biaya sareng harga turun, laju sareng disinflasi - upami henteu deflation - turutan. Lamun pamakéna tur usaha yakin yén harga bakal tumiba dina mangsa nu bakal datang, maranéhna bakal antosan mésér barang sarta jasa, ngadorong laju duit handap.

— Cathie Wood (@CathieDWood) October 25, 2021

2.- ”Creative destruction, thanks to disruptive innovation. They have not invested enough in innovation and probably will be forced to service their debts by selling increasingly obsolete goods at discounts: deflation.”

Aranjeunna leveraged neraca maranéhna pikeun mayar dividends jeung meuli deui biasa, "manufaktur" earnings per dibagikeun. Aranjeunna teu acan invested cukup dina inovasi sarta meureun bakal kapaksa jasa hutang maranéhanana ku ngajual barang beuki leungit di diskon: deflation.

— Cathie Wood (@CathieDWood) October 25, 2021

3.- “Businesses shut down and were caught flat-footed as goods consumption took off during the coronavirus crisis, they still are scrambling to catch up, probably double- and triple-ordering beyond their needs.” + “As a result, once the holiday season passes and companies face excess supplies, prices should unwind.”

Hasilna, pas usum liburan pas sareng perusahaan nyanghareupan kaleuwihan pasokan, hargana kedah unwind. Sababaraha harga komoditi - kayu jeung bijih beusi - geus turun 50%, crackdowns Cina mangrupakeun salah sahiji alesan. Harga minyak mangrupikeun outlier sareng penting sacara psikologis.

— Cathie Wood (@CathieDWood) October 25, 2021

She ends her Twitter thread with an unironical “Truth always wins!” Well, Cathy, the truth is that governments everywhere are printing money non-stop. They’re literally inflating the monetary supply. We’re not talking hyperinflation yet, but still…

Bisi wae, hayu urang ngajak selebriti séjén pikeun chip.

Bitcoin-denier Elon Musk provides a practical answer, “I don’t know about long-term, but short-term we are seeing strong inflationary pressure.” Wood’s theory has some teeth to it, but there’s no denying that the prices are rising. And that the money printer goes brrrrrrrr. Musk also links to this satirical article. No mention of hyperinflation here.

Then, it’s time for Bitcoin maximalist extraordinaire Michael Saylor. “Inflation is a vector, and it is clearly evident in an array of products, services, & assets not currently measured by CPI or PCE. Bitcoin is the most practical solution for a consumer, investor, or corporation seeking inflation protection over the long term.” Inflation is clearly evident and that’s that. No mention of hyperinflation either.

Inflation is a vector, and it is clearly evident in an array of products, services, & assets not currently measured by CPI or PCE. #Bitcoin mangrupikeun solusi anu paling praktis pikeun konsumen, investor, atanapi perusahaan anu milari panyalindungan inflasi dina jangka panjang.

— Michael Saylor (@saylor) October 26, 2021

Investor and podcaster Preston Pysh goes even further, “That’s because all the debasement keeps nesting itself into the cap rates of anything equity based AND the prices of Fixed Income. It should all make total sense when the market they are manipulating IS the fixed income market.” Market manipulation. Total control of the data. Those are factors to consider.

Éta sabab sadayana debasement tetep nyarang sorangan kana tingkat cap naon waé dumasar equity AND harga Panghasilan Tetep. Éta sadayana kedah janten akal nalika pasar anu dimanipulasi nyaéta pasar panghasilan tetep.

— Preston Pysh (@PrestonPysh) October 26, 2021

Contributing to the conversation for the second time, Balajis plays peacemaker and says that both Dorsey and Wood are “right in different ways.” According to him, “Everything technology disrupts will see prices fall. Everything the state subsidizes will see prices rise.” That’s because “The state actively prevents automation in the sectors it controls.” So, the current scenario is “a race between technological hyperdeflation & state-caused inflation, possibly hyperinflation.”

Both @jack and @CathieDWood are right in different ways.

Everything technology disrupts will see prices fall. Everything the state subsidizes will see prices rise. Like the graph below, but even more extreme. https://t.co/KDIGBH9iZp pic.twitter.com/JYTlw4xF55

— Balaji Srinivasan (@balajis) October 25, 2021

There’s an old wives’ tale that says that by only mentioning hyperinflation, one could generate a chain of unfortunate events that end up causing it. Cathie Wood brushed on the subject by saying “If consumers and businesses believe that prices will fall in the future, they will wait to buy goods and services, pushing the velocity of money down.”

Taking it to another level, Wired columnist Virginia Heffernan brings 1984 vibes to the discussion. “Like “divorce” in a marriage this word Jack tweeted should not be uttered unless you’re trying to bring it into being. No one shd take investment advice from someone who sees himself as making markets.”

Like “divorce” in a marriage this word @jack tweeted should not be uttered unless you’re trying to bring it into being.

Taya sahijieun shd nyandak nasehat investasi ti batur anu nilik dirina minangka nyieun pasar.

How insanely reckless to tweet this. Immoral. Jack, ban thyself. pic.twitter.com/fl7CWRXdN8

— Virginia Heffernan (@page88) October 24, 2021

Bisa Jack Dorsey mawa hyperinflation kalawan tweet a? Tiasa waé. Sanajan kitu, teu tersangka utama duit percetakan duit relentless pamaréntah kalibet dina? Éta sigana janten faktor anu nangtukeun, sabab éta hartosna inflasi. Henteu aya dua cara ngeunaan éta, pamaréntahan ngagedekeun pasokan artos kalayan percetakan artos anu konstan. Sareng tweet Jack Dorsey ngan ukur koméntar kana kaayaan éta.

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In any case, Reason magazine has another interpretation for Heffernan’s bizarre behavior. Apparently, historically speaking, when hyperinflation happens the next move by the money printers is to prohibit people from even mentioning hyperinflation.

"Leres yén ekspektasi mangaruhan paripolah sareng ku kituna harga. Tapi naon waé brouhaha Dorsey tiasa ngagedekeun sareng shitpost moneterna écés teu jelas dibandingkeun sareng faktor makroekonomi anu kuat-belanja sareng nyitak bonanzas, overhangs hutang anu luhur, kawijakan lockdown, sareng kaayaan ayeuna sareng ranté pasokan, pikeun sababaraha nami — anu leres-leres. nyetir inflasi "transitory" anu diakui ku para ahli anu dihormat sacara lega."

Leungit, AS jauh tina hiperinflasi sareng Dollar masih mata uang cadangan dunya, anu masihan aranjeunna leeway.

sumber aslina: NewsBTC