Over-Printing of Money Causes Inflation

The United States is facing severe inflation despite the Federal Reserve and mainstream media doubling down on saying the loss of purchasing power is just “transitory.” This week consumer and producer metrics from July have been published by the U.S. Bureau of Labor Statistics and inflation is growing stronger.

Hmm... the US facing inflation and rising oil price? I wonder why... Surely it has nothing to do with the fact that the federal government printed trillions of dollars or the closure of the Keystone Pipeline. Nope, certainly not.

But seriously though...

This is one of the reasons why I think cryptocurrency is better currency than fiat money. Unlike fiat money, cryptocurrency has set amount and could not be printed indefinitely which mean that it would not cause inflation like what the US dollar is doing.

Source: https://news.bitcoin.com/us-inflation-continues-to-rise-amid-lockdown-talk-producer-prices-jump-7-8-biden-blames-opec/