Have you ever wondered where your money comes from? This is a very board topic, but in general your money comes from expanding the money supply. Every time the Federal Reserve expands it’s money supply we go further into debt, because each note created is stealing value from other dollars in circulation. The Fed controls the rate at which we expand this money supply, so that the economy doesn’t grow too fast, nor too slow.
Moreover, paying for our national debt might not even matter soon. For starters, we can’t keep interest rates low for an indefinite period. Rates are going to have to rise to unprecedented levels in an effort to spur economic development. The national debt was never meant to be a permanent solution. It is a system that was set in place to make other nations work for us for practically free. You and I won’t consider this fiat system a scam, because we are gaining immensely from it. If you make dollars, you are pro dollars.
Is Bitcoin up to the challenge to meet our global economic needs? Can a deflationary crypto like Bitcoin coexist with a system of debt? This remains to be seen. The system of debt is the best monetary system we have so far. However, we are steadily transitioning into a financial system that uses Blockchain technologies to offer transparency in how nations govern. Perhaps true accountability in government will thrive after a global economic meltdown. No longer will people wonder where their tax money is going. It will be publicly viewable on the Blockchain for all to see.
People are beginning to flee from fiat currency. Governments can’t stop it. Even if they tried, other countries would somehow allow people to exchange their fiat for crypto. The United States always sets the example for having the freedom to do as you please. There are laws to regulate everything, however when it comes to innovativing technologies. The US takes a back seat and lets the free market take its course for the betterment of mankind.
Perhaps this economic forecast will gradually happen, the mind can think much quicker of events that may transpire. In any event, hoard at least 1 percent of your savings in crypto and gold. If you’re a skeptic, hold on to your dear paper money. If you’re like me, and you’re all in on prepping for this possible catastrophe, you hoard precious metals and crypto. One way or another this debt has to be eradicated. In all likelihood, smaller countries will default on their debt as their currencies crash, because people will be withdrawing their money out of banks at a rapid pace to buy gold bullion and Bitcoin. The US will follow and take the whole world with it.
Prep and pray for wisdom for we are heading thru what might be the greatest economic depression unlike anyone has ever seen. Don’t hoard worthless paper money, not worth the paper its printed on. It wouldn’t be the first time a currency went thru hyperinflation and it won’t be the last. Below you will see the cover of The Economist Magazine published in January 1988. People have been warning about this calamity for over 30 years.
CAN BITCOIN KEEP BOOMING? …SEE PAGE 10