Hi LilLu. I agree very much with what you just said. And I have also said that crypto is tied to the dollar because we buy crypto with the dollar and we cash out our crypto for dollars. However, there is a factor that threatens to change everything. Debt / inflation.
The national debt is $30 trillion. It’s so high that just the interest owed on the debt exceeds our military budget. Go check out the debt clock, but don’t eat first because it’s going to make you sick to your stomach.
The runaway debt is the reason why every few months you hear about a debate over raising the debt ceiling. They have to keep raising it so we don’t default on our loans. Inflation accelerates the rate of the rising debt. Right now the debt is still on lower interest rates, but next year the new rates will kick in and with the higher interest rates, the interest on the debt will accrue even faster.
What does this all mean? The U.S. wants the dollar to remain the dominant currency so that they can maintain control. If we default on our loans, that’s the end of the dollar as # 1.
To keep paying the bills, the fed will have to keep printing money. Here comes hyperinflation. They have gotten away with printing more money for a long time, but we’re getting close to the process finally blowing up.
What can we do to help alleviate the problem? For one, we’ve got to stop spending millions of dollars to study the mating habits of turtles. And dopes have to stop voting for the fiscally irresponsible.
There’s a lot of emerging technologies with blockchain being one of them. That’s good news because they can facilitate a roaring economy which would really help providing we could keep inflation in check.
I know I probably said way to much to get to my main point that the national debt has the potential to remove the dollars dominance over crypto.
I’m with you though that it’s mostly about blockchain.
This is all just my opinion. Please form your own opinions when considering crypto as an investment.
Remember Tomorrow
