Bitcoin Vs Gold Vs Stimulus: Bitcoin Price Over $23,000 Gold Stimulus Package Wealth Distribution

Bitcoin Vs Gold Vs Stimulus: Bitcoin Price Over $23,000 Gold Stimulus Package Wealth Distribution

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I thought I’d do something a little different, but still on topic with everything we discuss on this channel

I woke up this morning thinking about the gold standard of the past, the Federal Reserve’s stimulus response this year, and bitcoin and cryptocurrencies of the future, and thought: which is the best way to help as many people as possible with wealth distribution during times of need?

First, let’s talk about the gold standard.

According to Investopedia: “The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold.”

Used in the U.S until 1933, the gold standard was abandoned for the dollar to help grow the economy.

Meanwhile, we all know about the Federal Reserve and the stimulus response during this crazy year of 2020.

With vital CARES Act programs like extended enhanced unemployment benefits, direct payment stimulus checks, and small business EIDL and PPP loans, the government was somehow able to keep the stock market and economy afloat during these turbulent times.

While we’d love to see more stimulus Fed support, it’s been remarkable to see our government work so hard to provide financial security for millions of Americans through a number of different stimulus programs.

Finally, there’s bitcoins and cryptocurrencies, which many are predicting as the currency of the future.

With the current price of bitcoin over $23,000, it looks like the sky's the limit for these cryptocurrencies in the future.

Unfortunately, there are only so many bitcoins, which makes it difficult to distribute evenly among the people that want it and the people that already have it.

So which strategy do I think is best to help millions of Americans during times of need?

I’ll take the Feds and their stimulus programs time and time again.

So many incredible stimulus programs have been able to maintain fluidity in the stock market, helping us to endure a global pandemic and a wild and wacky election as we prepare for the unknown future in 2021.

I don’t know what the future holds for cryptocurrencies or if we’ll go back to the gold standard, but I’m happy and thankful to be living in America during a global crisis, as our government has had our backs through countless disaster relief efforts.

Source: https://www.investopedia.com/ask/answers/09/gold-standard.asp#:~:text=The%20gold%20standard%20is%20a,sells%20gold%20at%20that%20price.

https://www.history.com/news/how-did-the-gold-standard-contribute-to-the-great-depression#:~:text=The%20government%20raised%20the%20price,depths%20of%20the%20Great%20Depression.

https://www.coindesk.com/price/bitcoin

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Видео Bitcoin Vs Gold Vs Stimulus: Bitcoin Price Over $23,000 Gold Stimulus Package Wealth Distribution канала Andrew Cartwright