Key English
00:02:31.780-->00:02:34.400 official government statistics as to
00:02:34.560-->00:02:37.340 the amount of money in circulation.
00:02:37.440-->00:02:39.960 This is M1, which is
00:02:40.260-->00:02:41.640 paper money, currency
00:02:41.660-->00:02:44.640 and also checking accounts and savings accounts.
00:02:44.820-->00:02:47.960 It's cash and things that act like cash,
00:02:48.120-->00:02:49.160 all together,
00:02:49.320-->00:02:51.560 and each of these plots is showing
00:02:51.640-->00:02:55.660 since October 2008, which is when the Bitcoin white paper came out.
00:02:55.820-->00:02:59.280 That is the left-hand scale of each of these four plots.
00:02:59.660-->00:03:04.980 This [left] is 2008 and this [right] is the end of 2019.
00:03:05.740-->00:03:09.420 You can see that the money supply has inflated
00:03:09.580-->00:03:10.760 for everybody.
00:03:11.600-->00:03:13.220 In just 11 years,
00:03:13.300-->00:03:18.160 the money supply of the US dollar has gone up 2.6 times.
00:03:19.120-->00:03:20.260 In other words,
00:03:20.480-->00:03:24.620 the printing presses of money have been going on at that rate.
00:03:24.840-->00:03:26.920 We don't really notice it because
00:03:26.920-->00:03:30.080 every year the prices that we see go up a little bit
00:03:30.140-->00:03:33.540 but it's like a frog in boiling water, right?