When I saw this info and the corresponding example I just about had my jaw drop.
I mean, I already knew how ridiculously bad the finances of the Country I call home are run, but this really made it hit home.
Your household budget is F*cked!
So looking above at the example you can see how chopping off the last 8 zeros and looking at it from the perspective of an every day American's budget makes it sink in so much more.
And how disgusting that it is a regular citizen would be screwed if they did this but the U.S. gov't just raises the debt ceiling again to use more debt to fund everything even though that debt has no shot of ever being paid back.
The Fiat Experiment has failed.
It has been 50 years since we went off the gold standard. In that 50 years all we have seen is wild inflation in many periods, the worth of $1 erode precipitously and the concentration of wealth continue to push toward just a small percentage of people.
If you are not in crypto, you are making a mistake. But hey, that's just my opinion.
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Biden can't print Bitcoin, his build back better program is more like..
#eatthemiddleclass
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But hey, at least no more mean tweets
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It's a scary time going forward and there will need a financial system that retains wealth as the value of the USD drops. Frightening times ahead for the global economy if the USD tanks.
Hyper-bitcoinization will occur when a critical mass is reached. Once that happens the new economy will take over and all the nocoiners will change their tune pretty quickly. When this happens normies will begin earning money for their labor that is an actual store of value and thus will be able to attain financial freedom. There will be some rocky days for a bit but I'm pretty confident over all.
I agree with you that the debt ratio is just not right. There are lots of different ways that this train got derailed and there have to be solutions that have to be implemented in order to right things again... Do I think any of these solutions will be rolled out.. lol, I don't think so.. but its something that one day will have to be dealt with, perhaps by our children or their children's children or by us soon...
Crypto all the way!
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Politicians lack the courage to make decisions that will cause some pain to constituents, other than raising taxes.
Crypto holders, on the other hand, are accustomed to wild price fluctuations. Pain is baked into the system, which is what will save us in the long term.
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It seems like a joke but it's true.
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The bigger set of questions for those who are paying attention: Is all the nation’s gold secured? If so has it been hypothecated? Are the bars real or tungsten filled? Just remember the dick that set this all in motion during the 70’s could not be trusted.
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LOL, yeah there is no gold. 1971 is when all this junk began.
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Amen brother
Hi @scaredycatguide
This graphic has a tremendous impact!
It really makes it plain how messed up the national governments budget really is, and it is a bit scary.
I don't think I have seen a clearer illustration of this predicament this this one. Amazing.
Thanks for sharing, crypto is the answer to the question, what does an ordinary person do.
@defigeek
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