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America Adds $275B to Its Debt in One Day. Who Will Still Believe the Lies That Bitcoin Is a Danger to the Stability of the Current System?

By ssaurel | In Bitcoin We Trust | 6 Oct 2023


On October 3, 2023, the U.S. government added $275B to the U.S. debt. $275B in a single day:

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Some will say: that a little more, a little less, doesn't make much difference...

It's true that when you look at American debt, $275B doesn't mean a thing:

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US debt has exceeded $33T in September 2023!

Even more than the total amount of this debt, it is the interest on the American debt that poses an immense danger to America's future:

 

The Fed's unprecedented rate hike in such a short time has put America in an inextricable situation. This is hardly surprising, given that the current monetary and financial system is so flawed by design. This is just further proof.

Gone are the days when a debt-to-GDP ratio over 100% was taboo in America and the world.

Long gone are the days when debt was considered dangerous by American politicians. Here's what Thomas Jefferson, one of America's founding fathers, had to say about it:

“The accumulation of debts is a most fearful evil.”

Thomas Jefferson also believed that each generation should pay its own debts to leave succeeding generations in good economic shape:

“It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.”

Thomas Jefferson had already understood that this could prevent wars from recurring. That's why I've already talked to you about the role that hard money like Bitcoin could play in limiting future wars:

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Despite everything, America is still heading straight for the debt wall. With the US dollar as the world's reserve currency, America is exporting this monetary hyperinflation, and the debt problem is global. World debt has exploded once again in 2023.

The worst is yet to come, thanks to the flaws in the current system.

Obviously, rather than looking for solutions, the powerful in the current system prefer to find scapegoats to direct the people's wrath at for their worsening living conditions.

That's how often you see politicians or central bankers pointing the finger at Bitcoin or cryptocurrencies when listing the dangers to the stability of the global financial system.

At the time of writing, Bitcoin's market cap is around $530B.

My questions are simple:

  • How can an asset with a market cap of $530B endanger a financial system worth several hundred trillion dollars?

  • How can Bitcoin endanger the American economy, which is capable of adding $275B of debt in a single day?

As you can imagine, Bitcoin cannot jeopardize such a system. Bitcoin's current market cap figures are ridiculous compared to the US debt, for example. The real problem is not Bitcoin, but the current system.

Bitcoin is the solution, not the problem.

Now, ask yourself who has the most to lose from the emergence of the Bitcoin solution in the eyes of the general public.

In the first place, you have the central bankers who control the world with their money boards. Every time government debt increases, so does their power.

Then you have all the Cantillionaires who benefit most from this systematic use of money printing by central bankers. Central bankers generally profit themselves from their disastrous monetary policy decisions. That's the problem with letting humans make monetary policy decisions, and above all, constantly changing the game's rules.

Finally, the politicians themselves, understand that with its pre-set rules of the game (engraved in Bitcoin's source code) and a supply limited to 21 million units no matter what, the Bitcoin system will reduce their unfair power.

The only thing to do is to stop letting the powerful in the current system abuse your trust. Take your future into your own hands by protecting yourself from the debt-based system that enslaves us all. Make sure you're ready for the day when this system collapses.

In my eyes, Bitcoin is our best chance. Of course, nothing guarantees the future success of the Bitcoin revolution. On the other hand, there is a guarantee that the current system will collapse. So the choice is quickly made. It's better to try to get by than to accept the inevitable impoverishment of working harder and harder to pay for the disastrous decisions of governments and central bankers.

Stay strong, Stay Bitcoin HODLers.



In Bitcoin We Trust is on Quora too …

To help as many people as possible understand the why of Bitcoin and to avoid being scammed by ill-intentioned people, I've been answering questions about Bitcoin, money, economics, and cryptocurrencies on Quora for several years now via the space In Bitcoin We Trust. If you're interested, feel free to post your questions on Quora.

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ssaurel
ssaurel Verified Member

Entrepreneur / Developer / Blogger / Author.


In Bitcoin We Trust
In Bitcoin We Trust

In Bitcoin We Trust is a place where Bitcoin believers share their ideas about the upcoming revolution. Blockchain and cryptocurrencies are also covered in this publication.

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