Why I love Cyptocurrencies.
Honestly folks, if you live in the USA, as I do, this should scare you.
19 Trillion and counting..
Thats our national debt, 70% which is owed to the public.
Here is a beautiful little ticker tool that shows in real time, the US debt.
Now the debt ceiling was hit and congress is getting by with "special measures".
Last month, White House budget director Mick Mulvaney publicly floated a similar approach, and National Economic Council Director Gary Cohn echoed him. This created confusion at a moment when the debt limit had already been technically exceeded and the Treasury Department was resorting to “special measures” to keep all of the financial balls in the air.
for reference..
Yet 1/2 the budget is usually for defense, and compared to the rest of the world..
But financial problems don't just plague the US, Europe has its problems too. Greece, Italy, Spain, Portugal and Ireland in particular.
If only there was a way to transfer value privately as we did for thousands of years without the use of a trusted third party... :-D
So thats why I love my Crypto! It is my hedge against the rest of the world as we have always known it, But that paradigm is no more, now witness the rise of the blockchain!
One theory is that this huge debt will be inflated away in the aftermath of the next crisis. Central Banks have no other option (they won't let banks be destroyed).
Gold and other hard assets should be beneficiaries, and that tiny, very tiny spot called cryptocurrencies.
It has been told ;)
Personally I just like to speculate. I see the signs of a possible financial crisis again, buts that's all the are, just signs.
But the asymmectrical returns are worth being bet on.
Last time I saw a chart of military expenses, bad bad Russia was even behind Saudi Arabia.
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thank you! followed!