Kim Dotcom: “The US is at risk of bankruptcy” – Will Bitcoin be a lifesaver?

Kim Dotcom had a post on Twitter and said it “may be the most important topic” he had ever taken in connection with a significant global collapse on June 5, 2022. In the post, Dotcom specifically emphasized that “the U.S. economy is on the verge of bankruptcy.”

Needle Kim Dotcom Identification

In recent times Dotcom is not very optimistic about the global economy, and the Twitter he published this weekend has been better described. Kim Dotcom explained what he believed was being planned by the global elite, and he specifically studied the U.S. economy in depth.

“The United States has not had a balanced surplus or budget since 2001,” Kim Dotcom wrote. “In the last 50 years, the United States has had only four years of profits. All the profits that the United States has will not be enough to pay for the current six months of the annual deficit. So how did the U.S. pay for this? U.S. spending and debt are out of control, and governments can only increase the amount they need by printing it out.”

“That causes inflation. It’s like taxing you extra because you pay more for what you need, and all your assets go down in value.”

Kim Dotcom warns of ‘Mass Poverty and New Control System.’

Kim Dotcom, you’re not the only one predicting tough times. Tesla’s Elon Musk said he had a “horrible feeling” about the U.S. economy, and JPMorgan CEO Jamie Dimon recently warned of the possibility of an economic storm. Trend forecaster Gerald Celente recently explained that if war continues in Europe, the likelihood of recession will increase.

Kim Dotcom emphasized that the U.S. has not been in a crisis because the U.S. dollar is the world’s reserve currency. “Countries everywhere hold the USD as a safe asset,” Dotcom said. “So when the U.S. government prints out trillions of dollars, it is taking the lives of Americans and citizens around the world. This is the biggest burglary in history.”

He added that the problem is that it has been going on for decades, and in the end, it will lead to “mass poverty and a nascent control system.” Even if the U.S. could sell all its assets at the current market rate, it would still be bankrupt. Dotcom ended his Twitter thread by saying:

“Without controlled destruction, the world will collapse for everyone, including the elite. The world has changed so much and seems to have no meaning. The blatant corruption is taking place openly, and the propaganda media is eroding our rights.”

Bitcoin is a “lifesaver” for all.

Bitcoin has always been known as the inscription of governments and central banks, where everything is governed and controlled by power. So the question is when the world’s most extensive financial system goes down. The dollar is no longer an accurate measure of the value of how Crypto and Bitcoin will play a role in the future economy.

Cryptocurrency advocates argue that allowing central bankers to influence the economy through monetary policies, namely, quantitative easing, will lead to catastrophe, as evidenced by the rampant printing of money from Venezuela, Turkey’s, and Zimbabwe’s central banks have destroyed their economies.

Many economic experts have also claimed that cryptocurrencies such as Bitcoin (BTC) are resistant to the weakness of central bankers and governments because they are decentralized and cannot be closed. In a recent interview, one of the world’s most giant Bitcoin whales, MicroStrategy CEO Michael Saylor, expressed a highly optimistic view of cryptocurrencies. He claimed Bitcoin was the surest thing in an already chaotic world. Meanwhile, the third richest billionaire in Mexico,  Ricardo Salinas Pliego, has encouraged people to avoid fiat currency and invest in Bitcoin.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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