Kim Dotcom: the US dollar has already entered the death spiral, it is time to buy cryptocurrency
Source:According to who was in the siege of the governments of New Zealand and the United States since the shutdown of Megaupload in 2012, the dollar is not to avoid collapse. This is due to the Federal debt of the United States. Internet entrepreneur believes that now is the time to purchase the cryptocurrency and gold. In particular, we are talking about growing US debt due to the deterioration of the Federal budget.
Bitcoinnews give a brief summary on the state of the U.S. economy:
the-
the
- from 1997 to 2001, the debt was relatively stable in the range of 5.5 to 5.8 trillion dollars;
- by 2008, the figure rose to 9 trillion due to large-scale US military operation in Iraq; the
- in 2008, followed by the Great recession – the greatest economic crisis since the great depression. In the end, to save banks and corporations were made a few trillion; the
- at the beginning of 2009, the debt exceeded $ 11 trillion; the
- in 2012 the figure had soared to 15 trillion. The rate of growth of public debt only increased from the end of 2017 he broke the mark of 20 trillion. At the same time, the price of Bitcoin shot ; the
- as of October 25, 2018, the US national debt is 21.7 trillion dollars.
However, the events of 11 September 2001 triggered a global fight against terrorism, which by early 2004 the US national debt was 7 trillion; the
At the moment, the U.S. budget deficit is nearly a trillion dollars, and in the next decade, this figure will only grow. And it's just a dry rating excluding emergencies, potential wars or serious economic shocks. The market capitalization of Bitcoin is now 112,5 billion dollars, which just pales in comparison with the debt of the state. Monthly growth of the U.S. national debt exceeds the ENTIRE market capitalization of Bitcoin.
theWhat will happen to the dollar?
These data, in conjunction with many economic factors, and triggers can significantly devalue the US dollar. Perhaps this is already happening. USD inflation, consumer prices since 1998 was 53 percent, i.e. 2.7 percent per year. The increase in budget deficit will lead to higher interest rates on bonds, and that means re-start the printing press. Issue of new dollars will lead to giperplazia dollar, after which there will be a disaster for most participants in the global economy.
At the same time, according to Kim Dotcom, and gold should hold its value against the US dollar, so as to print them no one. More data to search for .
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