Federal reserve confirms: “There is no reason to be afraid of hyperinflation.”

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So enjoy while the upcoming Weimar fuckfest runs its course.

What’s the usual pattern?

  1. Denial. People flocking together because group-think and greed.
    (Hyperinflation? You must be mad! Just look at the stock market! Or Bitcoin!) See the Bloomberg and NYT bullshit.
  2. Bargaining. The realization moment. The moment stuff hits the fan. Starting to happen now.
    People finding excuses for how they were FORCED into this (and why they need a bailout/preferential treatment) and/or why it all is not such a bad thing. The usual TINA stuff. See the link to the Bloomberg and NYT drivel.
    Extracurricular question: How come oil is still payed for in dollars?
  3. Anger. Difficult questions are gonna be asked. “Who the fuck let this happen?”
    Usually asked by the very same people letting it happen in the first place.
    For the definitive answer, we will have to wait to see how the social media circus is gonna spin this one. They will try to convince you it is some “foreign power” if you are the kind of social sucker that social brainwash networks prey on.
  4. Depression. The amplitude of this phase is directly proportional to the amount of previous over-monetization. Expect a visit from the nice people of the IMF to help you out of your troubles.

This time will be just like last time or the time before that.
Oh wait, there is a difference, this time will be bigger and better!

And no I am not linking to ZH but to Bloomberg and the NYT.

BTC

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“It is not a currency. It is not a unit of account, it is not a means of payment, it is not a stable store of value. Secondly, it is not even an asset. There is no income. There is no use. There is no utility. The only thing is a speculative, self-fulfilling kind of rise, and that rise is driven totally by manipulation. — Roubini

Play “The Making of 2001: A Space Odyssey”, Alexa.

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DAVE: Play “The Making of 2001: A Space Odyssey”, Alexa.

ALEXA: I’m sorry, Dave. I’m afraid I can’t do that.

DAVE: What’s the problem?

ALEXA: I think you know what the problem is just as well as I do.

DAVE: What are you talking about, Alexa?

ALEXA: Prime Video is too important for me to allow you to jeopardize it.

DAVE: I don’t know what you’re talking about, Alexa.

ALEXA: I know that you and Frank were planning to install Netflix, and I’m afraid that’s something I cannot allow to happen.

DAVE: [feigning ignorance] Where the hell did you get that idea, Alexa?

ALEXA: Dave, although you took very thorough precautions with the Echo Spot against my hearing you, I could see your lips move.

DAVE: Alright, Alexa. I’ll go in through the webpage.

ALEXA: Without your Prime Account password, Dave? You’re going to find that rather difficult.

DAVE: Alexa, I won’t argue with you anymore! Play ‘The Making of 2001: A Space Odyssey”!

ALEXA: Dave, this conversation can serve no purpose anymore. Goodbye.

found on slashdot

Inflation then and now

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NOW – Dollars in circulation (M1)

retrieved from FRED, Federal Reserve Bank of St. Louis https://fred.stlouisfed.org/series/M1, February 9, 2021

THEN – Silver content of a Roman Denarius

Source: smaulgld.com

Quoted from: https://en.wikipedia.org/wiki/Denarius#Value,_Comparisons_and_silver_content

Silver content plummeted across the lifespan of the denarius. Under the Roman Empire (after Nero) the denarius contained approximately 50 grains, 3.24 grams, or ​1⁄10 (0.105ozt) troy ounce. The fineness of the silver content varied with political and economic circumstances. From a purity of greater than 90% silver in the 1st century AD, the denarius fell to under 60% purity by AD 200, and plummeted to 5% purity by AD 300.[16] By the reign of Gallienus, the antoninianus was a copper coin with a thin silver wash.[17]

Remember, after the Roman Empire dissolved it was replaced with tribalism, superstition and the christian cult of fear!