Two trillion direct assistance, roughly four trillion in federal reserve lending power again, will be the largest main street financial package in the history of the united states, liquidity and cash for families, small businesses, individuals, unemployed. To keep this thing going. Everybody met here with altcoin buzz, as you just heard: larry cudlow, their famous economist, saying that we're now gon na be pumping out six trillion dollars. I should say the US Federal Reserve will be doing that to help stimulate the economy to help offer relief. In this time of crisis, it is hump day everybody hope you're having a good one. We'Ll take a look at that and other news related to the Fed printing trillions after trillions after trillions of dollars, let's first take a snapshot. Look at the market on Quinn, Market, Capcom, 183 billion dollars at the time of this recording things down one or two percent on the day. Right now, Bitcoin at six thousand five hundred sixty dollars projects are generally following bitcoins lead, which is down one point: eight one percent on the day. Right now with the dominance, however, still high 65.5. Here we have this tweet courtesy of CBS News from yesterday. The 24th of March National Economic Council, director Larry Kudlow, says the coronavirus package will be six trillion dollars. We discussed a trillion dollars. We discussed two trillion dollars. Similarly, I missed it myself, maybe it's my mistake, but I seem to have missed four trillion now.
All of the sudden were at six let's, listen in to what mister Kudlow has to say that fund by the way will be overseen by an oversight board and an inspector general. It will be completely transparent. So the total package here comes to roughly six trillion dollars. Two trillion direct assistance, roughly four trillion in federal reserve lending power again, will be the largest mainstream financial package in the history of the United States, liquidity and cash for families, small businesses, individuals, unemployed, to keep this thing going. We'Re headed for a rough period, but it's only going to be weeks, we think weeks months not going to be years, that's for sure and hopefully pave the way for continued economic recovery after this crisis. So six trillion dollars is now the figure that we're working with many people, as you can see, are doing a little bit of preliminary math six trillion dollars. Three hundred and twenty seven point: two million people in the US. If you do a little bit of arithmetic, that division brings you to actually over eighteen thousand dollars per US citizen, and my understanding is that this is going to be allocated on a sliding scale. So not everybody will necessarily even get funding so technically that figure could be higher than eighteen thousand. Is it going to be that efficient where it's just a clean division? I very much doubt it. A lot of this money is going to go to different organizations.
Aid and relief organizations is my understanding, I'm no expert, but it shows you how much six trillion dollars really is. If you do just the straight math over eighteen thousand dollars per citizen. However, it's not quite that simple, it never is, as we've been discussing lately, the only true value that money represents fiat currency since it's no longer backed by any kind of gold standard or other precious metal or anything. Really. You could argue that the US dollar, the US currency, is backed by petroleum but that's a whole other discussion. Så, as I was just kind of trying to allude to we've, been discussing lately that the only real thing that backs currency right now is labor and that's. What gives it value the fact that you have to put in hours and hours and hours and in some cases you know many hundreds of thousands of hours over the course of your life? You put that into your job and then you pay it forward with taxes. So really taxation represents a fraction of your life in terms of working hours, that you are sacrificing to basically prop up the value of a currency and I'm, not disparaging the system, but that is what gives it value per se. So the Fed can print as much money as it wants really it's, not gon na make a difference in terms of the value of that currency of those dollars. At the end of the day, and here you have a yellow ma McWilliams that is making an appeal to American citizens, not to basically stage a run on the banks during these times of economic uncertainty, it's a pattern that has played out many many many many times In countries all across the world, in times of financial hyperinflation, in times of economic uncertainty, we've seen it in Zimbabwe, we've seen it in Venezuela, the Weimar Republic, altcoin buzz here.
Tweeting don't take your money from the banks when this individual, so this specifically is from the FDIC gov Twitter account forget the mattress keeping large sums of cash at home is risky and the best place to protect your money is an fdic insured Bank, where it's, safe And sound learn how the FDIC safeguards your money at fdic.gov, slash, deposit, the FDIC insured part suggests that even if a bank were to go completely under your funds are guaranteed as part of the legal insurance that, blinded that banks, rather are obliged to abide by. Not exactly an encouraging message, however, to be told by somebody from this organization that no, no, no, you don't have to stage a run on the banks. What are you talking about? No problem, we're in perfect shape, if that were the case, I very much doubt we'd. Be receiving this message from Jelena or miss MacWilliams, I should say, and the fact that this is coinciding again with the crisis that we're all experiencing with the Federal Reserve that's now: printing, six trillion dollars worth of money worth of US currency. That is going to certainly add to the dilution of the existing circulating supply of money, and that will happen through the mechanism of inflation. Certainly, let's take a look here on crypto briefing com. Will the feds easy money flow to Bitcoin? That is a possibility. All things consider we have been discussing the fact that we are witnessing at least perhaps the beginning of this decoupling markets.
Have you know done poorly over the course really of these last few weeks and Bitcoin followed their lead kind of immediately because of that liquidity crunch? That we've discussed now several times, but you know with perhaps with the exception of today today – is not a horrible day down 1.8 1, but we have seen sort of a decoupling when it comes to bitcoins movement versus the rest of the more traditional markets. Så, with these trillions of dollars now flowing into the system, how will that affect the cryptocurrency scene? Well, the government and Treasury nearly confirmed a 1.6 till 2 trillion a fiscal stimulus plan, one point six to two trillion dollars that is now make that six trillion dollars. American stocks recorded their highest daily gain since 1933. In the news that occurred yesterday, the Dow Jones up over 2000 points the highest ever single day hike. The question must be asked, therefore, his bitcoins uptick, also trading on the same information cryptocurrency analysts are hard at work. Debating the effects of the latest quantitative easing on Bitcoin QE, being the printing of money by the Federal Reserve, some speculate, the financial institutions holding low cost money may turn to Bitcoin, Alex Krueger commenting here with a little bit of skepticism. Remember how the Fed quote printing money was supposed to make Bitcoin prices explode. Higher quantitative easing is rocket. Fuel fantastic narrative Bitcoin, however, is down 30, since the Fed started expanding its balance sheet in August big facts.
Så, unfortunately, as it stands today, institutions do not seem to be betting on Bitcoin to do any better than their favorite stocks and furthermore, if the global economy enters a recession, investors are not likely to allocate capital to risk assets in the near term, even with the Extra stimulus, I tend to agree with that. You could take a look at this article in full for the full, more nuanced breakdown, but if this is indeed crisis relief aid right, the six trillion dollars, that's being allocated really for financial crisis purposes, you know there's a very telling statistic that I've heard many times Now and I can't necessarily vouch for its veracity by, I believe it to be true it's, one of those things that you hear so many times, you're, not really sure where it originates from, but I've heard told many times now that the average American cannot absorb a Cost an unexpected cost of four hundred dollars. In other words, we tend to live so much from paycheck to paycheck and we're such an indebted people as a society that a 400 expense out of nowhere. You know maybe that's your muffler breaking down on your car, maybe that's an unexpected healthcare expense, whatever it may be. That is often too much for the average person to handle they don't know how they'd be able to handle an unexpected cost of four hundred dollars. So I don't necessarily think that the average person certainly is going to be investing in Bitcoin.
If they see some of that federal deserve money coming into their hands. I think it's, probably gon na go into other things. Cuz people are certainly hurting. You guys know my opinion about this kind of stuff. I think we live very irresponsibly as a society. I think everybody should have months and months and months of salary saved up in the rainy day fund, just in case, but that's me I'm, a little bit harsh I'm a little bit. Jaded I'll leave it to you to decide how you run your life here on forbes.com well, bitcoin emerge as a winner, five quick things to expect one way or the other, and in no particular order. We can expect to see extreme price volatility we've already seen that in the cryptocurrency market we've seen it, I think, more than ever now in the traditional market in the traditional Wall Street scene and the financial sector, we can also expect to see Bitcoin resilience. If you have a long term perspective, then you're not really necessarily afraid of the five ten fifteen percent downturns, the twenty four hour flash crashes, because I think you'll agree that over the long term, things will balance out. If you have that perspective, you have nothing to worry about another thing: to expect here: Bulls to buy up Bitcoin lows. As always, you got to be fearful when others are greedy, but you have to be greedy when others are fearful and that's how fortunes are made.
Fortunes are made when you're able to buy up assets for pennies on the dollar. When blood is running in the streets, you also can expect the fact that Bitcoin prices could be bolstered by closed economies. You have all kinds of economies that, unfortunately, are faltering at the international level and then domestically. Of course, you have economies within industries, specifically hospitality industries that are suffering I'm thinking about hotels, I'm, thinking about aviation and, of course, cruise line. And finally, what you can expect, according to Forbes calm, is that Bitcoin prices may not rise during the halving. We really are experiencing kind of a Black Swan event right now, it's unprecedented. I don't necessarily think now that we can look to historical data to predict the future and the having kind of may come and go and may not have any kind of a pronounced impact on prices or charts immediately for some time I'm kind of in agreement with This, in particular, more than any of the other points that are made in this article let's now run down a couple of quick opinion to end things for today, Jeff Kurr dicus says the new stimulus package in the USA is six trillion dollars. Six trillion, as we mentioned before, divided by 350 million Americans, is over seventeen thousand dollars per person, including a little bit of a higher denominator here with 350, as opposed to 327. Either way. However, you slice it up it's a lot of money, yet they are giving out twelve hundred dollars per person who is really benefitting here, as I alluded to earlier, it's, completely unlikely that it's going to be distributed efficiently.
This is going to, of course, a lot of organizations a lot of unfortunately, government bodies that are going to be. You know in some cases justifiably needing some of those funds, but don't expect that to fall right into the pockets of the average American citizen. Switching gears a little bit here: crypto calm at crypto, calm, seven days to go till the next event on the syndicate, with B CH Bitcoin cash at 50 off get ready to participate. You got to sign up for crypto comm, the exchange. If you haven't already, you can stake CRO and subscribe at 6 a.m. UTC on the 31st of March. Details can be found here if you're interested in Bitcoin cash, again B, CH 50 off you have until the 31st of March. Också, some exciting news here from crypto comm there crypto compei, launches merchants invoice and create invoices, and your customer can pay in crypto details also available on blog crypto com pay with cro hashtag, crypto com pay and last but not least, at all point buzz IO tweeting. That, finally, we are starting an interview segment on the channel, so we'd like to crowdsource your collective wisdom. We want to hear from you members of the altcoin buzz army, who exactly should we interview tag them in the comments below you? Can either tweet at us? You can just so you can reply to us on twitter or you can leave your thoughts in the comments below of this youtube.
Video. Let us know your thoughts. Who would you most like to see us interview? This would be a more long form format. It would be more considered, it would be more conversational in nature, we'd love to hear your feedback on this issue, and we will be considering your suggestions well, that about wraps it up for today, everybody do be sure you're following us on all the regular social media Channels and checking back into altcoin buzzed on IO for all the latest go ahead like subscribe. Share, hit the bell to receive notifications if you've enjoyed today's video, let me know what you think about this whole quantitative easing six trillion dollars. This is unprecedented. The US government, of course, is already 20 plus trillion dollars in debt, so I'd love to hear your thoughts, your opinions about this particular issue. Best of luck, if you choose to invest on this hump day, don't forget about our crypto tag. Zu starter kit, giveaway that's happening this Saturday to participate. You have to be sure you're subscribed to altcoin buzz on youtube. You got ta like our videos, and you got a comment on our videos. Best of luck in that giveaway. If you choose to participate, you too can be eligible.