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The Fed Is Going Scorched Earth on the Economy
The Federal Reserve is taking out the bazooka to fight inflation. So how will this bode for Bitcoin?
Hennig Brandt was a 17th-century German alchemist who sought to turn pee into gold. His strategy was to boil down the urine with heat into a paste and heat it with sand. In effect, Brandt didn't create gold. Instead, he distilled phosphorus. While unsuccessful in turning piss into gold, Brandt's phosphorus discovery is pivotal in items like toothpaste, detergent, matches, and fertilizers.
Listening to the most recent Federal Reserve Speech by Chairman Jerome Powell (https://youtu.be/MjjtGqYBKfE), you get the impression that modern-day central bankers are like ancient alchemists trying to find the perfect formula for monetary policy. And, like Brandt, perhaps their trial-and-error methods will usher in a new recognition by the masses that Bitcoin should be part of a well-balanced portfolio.
I encourage you to listen to the speech and the Q&A session and judge for yourself. These are my interpretations of what Powell shared and why it makes more sense than ever to get a share of the limited Bitcoin supply.
