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The Inflation Acceleration Act

Email newsletter issued 11 Aug 2022 - Subscribe

Inflation. Everyone is talking about it, and you don't need to be an economist to understand how it is affecting your personal finances. Just a quick look at your energy bills is enough to see it in action.

 

70 years of non-stop consumer price increases

 

Cue the new Inflation Reduction Act, or perhaps better termed the Green Agenda Hyperinflationary Act. In our post-truth world, words no longer matter. Don't like the definition of the word "recession" as two consecutive quarters of negative growth? No problem, just change its definition and hey presto, we no longer have a recession. Don't like the fact that inflation is high? No problem, just change the way it is calculated to make it appear lower.

Now we have environmental legislation renamed as inflation reduction. More spending will reduce inflation! George Orwell foretold of this backwards thinking in his book 1984 with "War is peace. Freedom is slavery. Ignorance is strength.". This is the backwards world we are now living in.

This act proposes massive tax hikes and an army of 87,000 new IRS agents to enforce the extortion racket.

 

This is what 87,000 new IRS agents looks like. Photo by Bobak Ha'Eri.

 

Large corporations will be taxed at a minimum rate of 15%. Why are they currently paying less than 15%? Because they complied with tax incentives designed by the government that are intended to promote certain activities. They will now be punished for following these incentives. What happens when companies face increased taxes? They increase their prices, which the consumer will feel in the form of further inflation.

Then we have the vast spending programme planned on green energy. This redirection of funds will create an artificial increase in demand, which in itself is inflationary, plus the subsidies normally allow companies to increase prices beyond where the free market would place them, leading to further inflation. Increased demand will cause the price of resources used in green technology (such as batteries) to increase. Those raw material cost increases will apply to all industries that require those materials, and this, in turn, will lead to increased prices for the consumer. In other words, more inflation.

The government's answer to every problem is more government. Inflation running out of control? We obviously aren't extorting enough money and aren't spending enough!

The real reason for inflation is that government continuously overpromises and overspends. When it can't meet its bills it asks its friends at the FED to fire up the printing press for a load of fresh cash. This cash finds its way into the economy and erodes the value of everyone else's cash.

This is inflation. The way to stop inflation is for the government to spend less. Unfortunately, that is probably not going to happen until we have a total financial collapse of the fiat monetary system.

So what can you do about it? Thankfully cryptocurrencies arrived just in time through a remarkable technological breakthrough by Satoshi Nakamoto, when he invented Bitcoin. It is impossible for governments to inflate Bitcoin. The total supply is fixed and can't be manipulated. This makes Bitcoin an excellent store of value and hedge against inflation in the long term.

 

Thanks for subscribing. We welcome any feedback, so please just email us at info@definda.com if you'd like to get in touch.

Matt & the DeFinda team

 

 

 

Best Instant Access Bitcoin Staking Yields

This week's best instant access Bitcoin staking yields. The table shows the maximum deposit that the rate is available for. Deposits above these levels will typically attract lower rates.
BTC-RUNE
160%
Go
BTC-USD
31%
Go
BTC-LIB
20.8%
Go
BTC-DFI
16.3%*
Go
BTC (NEXO payout)
Platinum
7%*
Go
BTC
6%
Go
BTC (NEXO payout)
Platinum
6%*
Go
BTC (NEXO payout)
Gold
5.5%*
Go
BTC
Platinum
5%*
Go
BTC (NEXO payout)
Silver
4.5%*
Go
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Highest CeFi Yields

This week's highest CeFi yields. These are highest yields we could find across all our listed CeFi crypto platforms and centralised exchanges.
30% APR Go
25% APR Go
23% APR Go
20% APR Go
18% APY Go
18% APY Go
18% APY Go
18% APY Go
18% APY Go
18% APY Go
Note: Whilst some coins offer high yield it is important to consider the price trend of the coin and its fundamentals. Yield income could be offset by a drop in the value of the coin.
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Highest DeFi Yields

This week's highest DeFi yields. These are highest yields we could find across all our listed DeFi crypto platforms and decentralised exchanges.
11.8% APY Go
7.31% APY Go
2.89% APY Go
2.64% APY Go
1.93% APY Go
1.08% APY Go
0.7% APY Go
0.25% APY Go
0.24% APY Go
0.22% APY Go
Note: Whilst some coins offer high yield it is important to consider the price trend of the coin and its fundamentals. Yield income could be offset by a drop in the value of the coin.
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Biggest 7 Day Crypto Price Movements

The biggest price increases and decreases this week across the top 100 cryptos. Change in price over the last 7 days shown.
Gainers Losers
Neo logo NEO 42%
MultiversX logo EGLD 36.8%
The Graph logo GRT 28.7%
Injective logo INJ 28%
Cronos logo CRO 25%
Ronin logo RON 24%
ImmutableX logo IMX 23.6%
Arweave logo AR 23.2%
KuCoin Token logo KCS 22.5%
Nervos Network logo CKB 22%

Biggest 7 Day Movements Against BTC

The biggest 7 day price increases and decreases of the top 100 altcoins against bitcoin. This shows whether an altcoin has done better or worse than bitcoin over the last 7 days.
Gainers Losers
NEO 41%
Bitcoin logo EGLD 36%
Litecoin logo GRT 28%
Namecoin logo INJ 27.2%
Terracoin logo CRO 24.2%
Peercoin logo IMX 22.7%
Feathercoin logo AR 22.3%
Freicoin logo RON 21.8%
Ixcoin logo KCS 21.8%
Digitalcoin logo CKB 19.7%
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Cheapest Crypto Loan Rates

This week's cheapest loan rates from the thousands of crypto loan products that we track. Use our loan calculator to fully explore available loan, collateral, LTV and term options. We have included just one example loan from AAVE, but AAVE offers many other highly competitive loan rates.
LTV Collateral Accepted Rate
70% 0.24252% APY Go
50% 7.9% APR Go
50% 12% APR Go
25% 13.9% APR Go
30% 13.9% APR Go
33% 13.9% APR Go
35% 13.9% APR Go
40% 13.9% APR Go
60% 13.9% APR Go
70% 13.9% APR Go
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