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00:02:41.660-->00:02:44.640
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and also checking accounts and savings accounts.
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00:02:44.820-->00:02:47.960
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It's cash and things that act like cash,
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00:02:48.120-->00:02:49.160
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all together,
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00:02:49.320-->00:02:51.560
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and each of these plots is showing
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00:02:51.640-->00:02:55.660
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since October 2008, which is when the Bitcoin white paper came out.
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00:02:55.820-->00:02:59.280
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That is the left-hand scale of each of these four plots.
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00:02:59.660-->00:03:04.980
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This [left] is 2008 and this [right] is the end of 2019.
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00:03:05.740-->00:03:09.420
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You can see that the money supply has inflated
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00:03:09.580-->00:03:10.760
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for everybody.
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00:03:11.600-->00:03:13.220
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In just 11 years,
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00:03:13.300-->00:03:18.160
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the money supply of the US dollar has gone up 2.6 times.
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00:03:19.120-->00:03:20.260
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In other words,
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00:03:20.480-->00:03:24.620
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the printing presses of money have been going on at that rate.
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00:03:24.840-->00:03:26.920
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We don't really notice it because
|
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00:03:26.920-->00:03:30.080
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every year the prices that we see go up a little bit
|
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00:03:30.140-->00:03:33.540
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but it's like a frog in boiling water, right?
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00:03:33.840-->00:03:35.740
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The frog doesn't understand that
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00:03:35.740-->00:03:37.820
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it's sitting in boiling water until it's too late
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00:03:37.820-->00:03:39.260
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and it's cooked.
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00:03:39.360-->00:03:40.880
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That's the kind of
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