Claim $500Expert Reveals “Best Bets” Against Impending Economic Collapse
In a recent interview with Kitco News, Max Borders, the author of The Decentralist, revealed that the US economy is on the brink of collapse. He also revealed that Bitcoin and Gold are going to be key instruments to stave off the potential ramifications of future economic calamities.
Borders Explains The Issues With US Economy
Borders believes that the US may face worse economic hardships than the great depression.
Max explained that the biggest challenge to the US economy is that its debt is 130% of the GDP. On a worldwide scale, Borders reveals that there is over $300 Trillion in debts and leverages, while only $100 Trillion in production.
Borders also highlight that the Federal Reserve is being painted in a tight corner. Citing the example of the Coronavirus pandemic, Borders reveals that the Fed can print money to provide relief, only to then raise interest rates to curb the resulting inflation. He also highlights the unintended consequences of trying to intervene in the macro-financial systems.
Another factor at play is the clash between the political class and the central bank. According to Borders, while the monetary spending to ease the conditions during the pandemic was politically popular, it was not fiscally responsible.
Why Bitcoin And Gold Could Be The Answer
The author reveals that Bitcoin and Gold could be the answer to solving the economic conundrum. According to Max, people have lost faith in the institutions. Bitcoin was launched in 2009 as a response to the housing crash of 2008.
The housing crash exposed the collusion between the government and overly greedy companies. Bitcoin can provide an institutional shift and provide an alternative to traditional institutions. He also criticized the whales for treating crypto as a risk asset.
He believes that Bitcoin can be an excellent store of value and an inflation hedge if used properly by investors. The volatility of the cryptocurrency will go down with more and more mainstream adoption
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