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asahi 2y ago

Frightening….

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Discussion

tanel 2y ago

Uhm, ELI5 please?

CensorThis 2y ago

Fiat is worth much less today than 3 years ago

tanel 2y ago

Thanks bud, not the best when it comes to the English vocab regarding Econ

CensorThis 2y ago

It’s actually worse than I explained. The fiat system (US) is essentially in a death spiral where their expenditures on debt alone are close to a trillion dollars per year. Ouch

Cameri🐦‍🔥 2y ago

US Gov is bankrupt. It can only continue getting more in debt and devaluing the dollar at dollar holder’s (and pegged currencies) expense.

Pegged currencies have no choice but to devalue their currency to maintain their assigned peg to the dollar.

US Gov forces other countries to peg their currency on a rate favorable to them.

Orange Crush 2y ago

I hope bitcoin CEO never racks up debt like this.

Andy The Bitcoin Adviser 2y ago

It’s reassuring that the US government are reducing their expenditure and paying down the debt as fast as they can, would be terrible for future generations if they were to ignore the problem. 🙄

asahi 2y ago