Quantitative Easing

In the ‘doge-eat-doge’ world of cryptocurrency memecoins

I bought my wife this in cash. The young man smiles, holding up a picture of a mansion, then adds, “You can’t beat the rich at their own game. The system is rigged and cryptography is the only way to hack it, the only way to tell the rich. boss to come off. As I walked out of the Hex Cryptocurrency Conference in London in early December, my mind was spinning after seeing hundreds of ecstatic crypto enthusiasts explain how intangible computer code can change lives and is about to change the world. .

In my reverie, I got straight into the path of an approaching limousine. The car doors swung open and brought out more nouveau riche cryptocurrency, tuxedos, and smoking cigars. They presented the same common denominators as those of the conference. They were young, geared more towards Generation Z than Generation Y; they wanted to remain anonymous; and they had recently become the recipients of life-changing wealth.

The sudden shock of the coronavirus pandemic in 2020 plunged the world into a deep economic recession and produced the worst increase in income inequality since the financial crisis of 2008. Central banks around the world have turned to quantitative easing to revive commercial activity which had been paralyzed by a succession of blockages. This only exacerbated the inflation of national currencies and for the first time forced a large number of retail and institutional investors to view digital assets, such as Bitcoin and Ethereum, as a hedge against inflation. .