In modern times, reality often goes ignored, especially when it comes to the financial world. Politicians thump their chest about low unemployment and a growing economy, while the mass media spews lie after lie about every possible statistic there is. Meanwhile, the United States national debt has slowly crept up to over $23 trillion.
Currently, the debt per citizen is $69 752 and the debt to GDP ratio is 106.67%.
The United States national debt has been discussed for quite a while. Some of the more vocal bitcoin advocates have shared some interesting facts:
The US national debt just hit $23 trillion.
There’s now 23,000,000,000,000 reasons to buy bitcoin.
— Rhythm (@Rhythmtrader) November 1, 2019
That’s more than $1,000,000 debt per 1 bitcoin.
— Bee Capital bv (@beecapitalbv) November 1, 2019
In his recent interview with Hackernoon, Max Keiser explained that central banks are involuntarily contributing to bitcoin’s success.
The United States national debt will not magically disappear with the Quantitative Easing policy
Keiser pointed out that the biggest benefactor to bitcoin, is the Federal Reserve’s Quantitative Easing (QE) policy, which many experts refer to as “Helicopter money” or simply endless money printing. Keiser has been known to give rather extreme bitcoin predictions in the past and his latest one states:
“Bitcoin’s price bottomed right around the time when the Federal Reserve announced they would keep using QE forever. This was right around the $3.3K mark and central banks are about to go bust. All fiat money will die.”
As CoinStaker recently revealed, money printing doesn’t seem to be slowing down one bit. Countless experts are now warning that we’re slowly, but surely, heading towards a new crisis.
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