The Relationship Between US Government Debt and Bitcoin, Explained
Bitcoiners are looking for persistent USD inflation to validate their favorite asset. That’s unlikely to happen soon, economists say, but low interest rates are still a boon for BTC.
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Financial instability in Greece may eventually drive more people towards alternative financial solution. According to the IMF, Greece has a maximum of three weeks to deal with its looming debt. For the time being, the government suffers from a deadlock in their talks with creditors.Either Greece agrees to additional austerity, or introduces fresh elections. Neither solution is worth considering for the government right now, although a solution has to be found. The IMF predicts Greece’s debt load will become “explosive’ in the next 15 years. Everyone who has kept an eye on the financial....
In addition to the numerous applications of bitcoin technology on payments and storing identity, a new proposition has been raised by CNBC contributor Brian Kelly in applying this to solve Greece's debt problems. Recall that the debt-ridden has been scrambling to meet its loan obligations, with the new anti-austerity government still at odds with the country's creditors. Talks of a debt default have been swirling for months, as Greece's inability to pay its loans could wind up resulting to an exit from the euro zone. The Syriza-led government has refused to add to the ongoing austerity....
In the past weeks, the Bitcoin bulls have shown great strength pushing BTC’s price back into the $50,0000. In the meantime, the members of the U.S. government have re-opened a pandora box in an attempt to elevate their debt ceiling: to mint a $1 trillion coin and prevent it from defaulting on their national debt. Related Reading | Inflatable Bitcoin Rat Makes Comeback Due To Federal Reserve Ethics Issue As Peter St. Onge, a Ph.D. and economic research fellow at Heritage Foundation, explained in a post called “Trillion Dollar Coin: Rocket Fuel for Bitcoin”, the measure has been....
As the total debt of the US federal government surpassed it’s an all time high record with $19,659,460,647,160.83. Bitcoin is proving to be one of the very few alternatives for financial protection. The US economy is found on an entirely debt-based monetary system, which is presumed to surpass $20 trillion in debt by 2017. The outstanding debt of the US federal government is covered by the Federal Reserve’s quantitative easing process, in which billions of Dollars are printed out to be distributed amongst top-tier commercial banks, corporations, and the Federal Reserve bank. Bloated US....
Presidential candidate Donald Trump claimed that the US is incapable of defaulting on its debt because of the Federal Reserve’s ability to “print money.” The Republican Party’s presumptive presidential nominee attempted to clarify previous statements that he could persuade America’s creditors to accept less than full payment for the national debt, which was construed by some publications to mean he intended to default. Trump insisted that he meant that the US could simply buy back debt at a discounted rate. “You know, I’m the king of debt. I understand debt probably better than anybody. I....