Some Perspecitve on US National Debt - Bitcoin is Not the Ponzi
In the US, the government is now spending $1.5 Billion Dollars a day on interest on the National Debt and we are sill at nearly 500 year lows in interest rates. Of course we are not actually spending this money, we are just printing it out of thin air as the total debt rises by more than this. The world just keeps accepting this mantra of the "almighty dollar"...for now.
And this is with rates still relatively low due to the maturity schedule of US debt, which will rise as existing debt issued over the past decade during record low rates matures and is replaced with higher yielding debt.
And although we are not alone in this as governments around the world are all running the same form of Ponzi, we do stand out as the dirtiest shirt in the laundry.
No wonder Powell is starting to walk back further rate hikes. This is unsustainable in the long run and the long run is quickly becoming the short run.
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Once this unravels, crypto will become a safe haven.
$1.5 billion in daily interest paid is insane.
Damn! That’s a lot of cheddar for a daily fix-it...
A lot of cheddar indeed!