A strong pro BTC debate which was once restricted to developing countries has hit home as the Trump administration transfers a huge accumulation of debt onto Gen Z with monetary policies that are self serving.
On Thursday 11th of April 2019, Trumps economic adviser, Larry Kudlow, made a bold statement that we “wouldn’t see another rate hike in his lifetime” which solidified the relevance of crypto as a means of achieving financial independence.
Larry, who is an economist and over 70 years old, has perfect Federal Healthcare benefits, so he either is confident that the president will control the Federal reservein his next tenure by proxy, or he is not just optimistic about his future. His claims are odd either way.
The real reason for his claims are quite obvious, he is trying to keep the stock market as pumped up as possible, so as to keep his job by achieving ‘Trump 2020’.
Larry Kudlow’s economic plan needs a very weak dollar, in order to keep foreign investors financing the huge debt this administration made by the tax reform.
Global Bitcoin Growth
The corruption and mismanagement which festers in a lot of governments and Central banks, has been a strong proof for the support of Bitcoin. This has been more pronounced in nations like Venezuela and Zimbabwe where abuse of power is very common. The first world is not exempt, as terrible monetary policies are also in place.
Bitcoin which is deflationary digital asset, tends to be a natural life saver for people who have experienced hyperinflation, but in developed nations, where there are strong means of digital exchange, it is still an idea that is debated.
The fact that damage may not always be seen immediately is ignored during such debates.
Effects of Limited Term Governance
One of the problems of limited term governance is that the elected officials don’t look at the long term. If you are born in Gen Z, and resident in the United States, your tax burdens increase every month as you watch helplessly.
This is the only means by which years of carelessness can be undone, the recent tax cuts by the Trump administration added the finishing touch.
Need for Financial Independence
Now that Trump’s Yes men are all in the white house, the only way to secure the financial future seems to be Bitcoin.
There has always been a need for financial independence, but it has become a necessity.
The debt incurred by two recessions has been pushed forward, but one definitely has to pay for it.
The World’s Trust in Bitcoin
USD still remains the world’s reserve currency, because of its liquidity, and of course it’s stability. On the other hand, crypto is not liquid, so for now the public has little trust in it, But this trust increases with every attack on Federal Reserve by the White House, or any addition to the unpaid debt already incurred.
This shows that Bitcoin is definitely bullish.