The US debt is increasing at a rapid pace and with the big crash coming up, Kim Dotcom is emphasizing people to invest in Bitcoin, cryptocurrencies, and gold as economies are going to crash making US Dollar worthless in the process.
US debt to spiral out of control, Bitcoin is the best bet
Everyone is talking about the impending crash that will make economies collapse, stock market to take a hit, and fiat currencies to crash. From Goldman Sachs, Bill Gates, ‘Rich Dad, Poor Dad” author to industry experts and analysts all have incessantly emphasized on the grievousness of the situation.
The latest addition to this list is Kim Dotcom, a German-Finnish Internet entrepreneur, and political activist. Yesterday he Tweeted that a big crash is indeed coming and cryptocurrencies and gold will be the best hedge in the coming tough times.
Trust me. Buy crypto and gold. Your USD will become worthless. With US economic collapse all old money currencies will crash.
Times will get tough. But you’ll be fine if you hedge some of your assets in preparation for the crash.
The big crash is coming 100%.
— Kim Dotcom (@KimDotcom) August 12, 2018
He shared the astronomical debt value stating,
“The average total debt per family in the US is now at 845000 USD. The average unfunded liability in the US is now at 938000 USD per taxpayer. Anyone who thinks US debt can be solved with economic growth, new debt or printing more dollars is an idiot. US Empire will default.”
“We have significantly reduced our investment in US assets. In fact, the dollar, which is considered to be the international currency, becomes a risky tool for payments”
— Finance Minister of Russia
The US debt burden has become unmanagable. Watch USD when China drops US debt.
— Kim Dotcom (@KimDotcom) August 12, 2018
These recent tweets have been in continuation with his tweets a few days back, where he stated:
1 TRILLION DOLLARS in additional US Govt debt PER YEAR!
US spending is funded by lenders who will never get paid. US Empire will collapse followed by a world wide economic collapse. https://t.co/kdtB0GnewP
Shift your USD into Gold & Bitcoin asap before USD becomes toilet paper. https://t.co/a5UIuhJvUT
— Kim Dotcom (@KimDotcom) August 9, 2018
He further illustrated the upcoming collapse:
“Trump was handed an Empire on life support. No trade deal, no economic growth, no tariff or war can save this patient. Top economists around the world agree that US debt is unsustainable. There is no sugar coating this. US Empire is broke. Prepare for collapse. Gold and Bitcoin.”
However, he also shared the plan to get by through these difficult times with this Tweet.
The plan:
Crypto to replace paper money
Blockchain to replace govt and bank control of money
Encryption and open source to replace Deep State spying
Decentralized social networks to replace Deep State networks
Truth to replace lies and deception
People get their power back
— Kim Dotcom (@KimDotcom) August 9, 2018
Also, read: Cryptos are the Most Exciting Thing in Finance, Govt. Shouldn’t Intrude- Jeffrey A. Tucker
National currencies losing value all across the world
Dotcom has been crypto favorable for a long time and his warnings are not unfounded as, as per the latest report from Congressional Budget Office, in the last 10 months the federal deficit has gone up 20%.
By the end of this year, the deficit is expected to hit $793 billion and in 2019, this will reach $1 trillion. The interest payments on this debt are forecasted to become the fastest rising expenditure on a yearly basis.
If we take a look at the national currencies of the countries around the world, many are already losing their value. Recently, Turkey’s Lira plunged dangerously as it lost 40% of its value that resulted in a surge in the trading volume of cryptocurrencies on exchanges.
Now, South Africa’s Rand has hit a 2-year low and recently Pound, Euro, Chinese Yuan, and Japanese Yuan also saw a downward trend. As is happening in Turkey, it just might spread out in other countries as well, especially amidst the ongoing US-China trade war.
The post Buy Bitcoin, US Dollar Will Become Worthless: Warns Kim Dotcom over Impending Big Crash appeared first on Coingape.
Written by Anjali Tyagi @ https://coingape.com/buy-bitcoin-us-dollar-will-become-worthless-kim-dotcom/ August 13, 2018 Anjali Tyagi
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