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ROLLUP: China's $500B Stimulus | Kamala's Pro-Crypto Pivot? | Gary Gets Grilled | EIGEN Unlock Incoming
Bankless
Dual Bazookas: A Stimulus Surge
China is implementing significant monetary and fiscal stimulus measures that resemble full-scale quantitative easing (QE) and massive government spending. The People's Bank of China has cut reserve requirements for banks, lowered interest rates, and is expected to inject substantial funds into the banking system, categorizing this as a form of money printing. Additionally, a sovereign debt issuance of $284 billion is anticipated for further fiscal stimulus. This dual approach of monetary and fiscal stimulus signals a new era of inflation and easy money, which is perceived positively for crypto assets, as they are seen as a hedge against fiat currency inflation. The ongoing monetary policies could sustain interest in Layer 1 blockchain assets, emphasizing their scarcity in contrast to increasing fiat supply.
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