If more printing means more good times for risk assets, not everyone is even convinced that the long-vaunted balance sheet reductions will last.
“There is no government, ever, that resisted the temptation to print money in order to pay its bills and placate its citizens. I challenge you to contradict me with evidence,” Arthur Hayes, ex-CEO of derivatives giant BitMEX, wrote in a blog post in March.
Should investors be recreating the bottom-buying behavior after the COVID-19 crash, the implications should be clear but may take a while to play out.
While only an estimate of the processing power dedicated by miners, the hash rate has never been higher.