by Mac Slavo, SHTF Plan:
Once the global debt bomb explodes, there won’t be much left for anyone. Governments will fall, individuals will be impoverished, and businesses will implode. The elitists in power have tried to keep everyone in the dark, but maybe there’s an answer to this devastation.
Global debt now stands at a terrifying $243 trillion according to a report by the Institute of International Finance this week. That’s quarter of a quadrillion. We’re in the realms of the absurd and the unsustainable. That’s money that will never be repaid. The debt-based system is irrevocably broken and is still propped up by the lies told by central bankers and governments in order to remain in positions of power over others.
The record debt figure stands at three-times the world’s total gross domestic product (GDP). In other words, it’s three times larger than the value of all products and services on the planet. And the United States is contributing massively to this problem, propping up a debt bubble that will crush everyone when it finally bursts. It’s pretty safe to say that if you aren’t concerned, you simply aren’t paying attention and will be hurt when it all collapses.
An irresponsible monetary system addicted to printing money and issuing credit is destroying the standard of living almost everywhere on the planet. It’s time to admit that we, as human beings, need a new alternative to the control, wealth redistribution, theft, and slavery that’s overtaken humanity. And one website dares to say that while it’s far from perfect, bitcoin offers a viable solution with its fixed supply.
According to CCN, Bitcoin, the decentralized cryptocurrency, is a way out of the poorly designed monetary system forced down all of our throats by power-hungry sociopaths. When economic growth is insufficient, governments and companies borrow more money. But this is nothing more than a cycle of addiction, writes John Mauldin inForbes:
“This is classic addiction behavior. You have to keep raising the dose to get the same high… Central banks enable debt because they think it will generate economic growth. Sometimes it does. The problem is they create debt with little regard for how it will be used.”
When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can’t possibly ever pay it back, and thus must print it instead, and thus fiat is doomed… watch what happens to crypto.
— Erik Voorhees (@ErikVoorhees) 8 November 2018
Bitcoin could be the answer to a fiat currency because there is a fixed amount. No one can magically print a bitcoin out of thin air. In our current fiat system, central banks create money in a process called quantitative easing. The central banks issue new money and use it to buy bonds and assets. This has the effect of introducing more money into supply, lowering the purchasing power of your money, and encouraging low-cost lending.
The ONLY concern with Bitcoin, is that it only has value if someone wants it. It’s a commodity. If there’s any kind of ultimate cataclysmic event and no power grid to access your Bitcoin, it’s going be of no use. If the system collapses and people begin to starve, they can’t eat a bitcoin any more than they could eat a bar of gold. That’s why diversification is key – and a point far too many tend to overlook.