So that's how the bitcoin came about to make a currency where there are no central governing body that can just print more whenever it wants.
So that's how the bitcoin came about to make a currency where there are no central governing body that can just print more whenever it wants.
What we really got was a tacit approval for bankers that they could make highly leveraged bets in the 7 years that the markets were going up, make shitloads of money, feel like geniuses, and then when it all inevitably explodes the government would bail them out and then QE like crazy to pick up the pieces. The QE would be given not to citizens, but to banks to inflate equity markets, and start the whole cycle again.
Now we have a whole new generation of financial "geniuses" overhyping every asset class, making shitloads of money off it all, thinking they are geniuses, and when it all collapses again they think the same thing will happen. It may do, but this time I don't have to be involved in that bullshit. My money is now unprintable. They can devalue the USD shitcoin all they want, but there are still only 21 million possible bitcoins and that's all I care about.
Inflation was near zero for the whole time.
Also, Bitcoin was released in January 2009, before anything but the very earliest trivial reactions to the collapse, it absolutely was not inspired by the much later criticisms of the reactions that largely hadn't yet occurred when it was released, no matter how amusing your theory is that the motivation for Bitcoin was literally people pissed off that an entity existed which had power to act to prevent a catastrophic economic collapse.
The Fed doesn't print the paper bills anyways. The Treasury does it.