THE DRAMA OF THE DEBT CEILING
I stepped into this conversation for the sole purpose of crypto. What debt ceiling has to do with crypto? Somehow there is correlation indirectly, since the infrastructure bill has a clause for crypto to pay for some, I think social media should be aware and feel concerned in that aspect. Hard to point fingers at the debt ceiling without both parties pulling each other at the table. No need to jump at their discussion, I will stick to the part where you and I are concerned
through the eyes of the financial sphere.
First of all the debt timer is going out of control. The US alone is owning everyone more than $28 trillion and counting. This is what happen with reckless spending match with having the world currency. The part I do not get, there is no slowing down in controlling the debt ceiling with spending. Everyone responsible is turning a blind eye on that regard. They are getting pay yearly $174k and still no true resolution on that matter.
The capitalism is so focused on showing its might where the simple act of planning is lost in translation. I think crypto can help with the debt in some form. Knowing crypto will not be banned, it should be look at on that matter to help. Now since the debt matter was not born today, it plays a role in the financial system where it keeps everyone with no true income indebted to the system.
Maybe we are asking the wrong question.
This is what happen when you can print at will. Being the leader in that category is not a good example. The US will maintain its status quo as time permits. This is why they add trust right in back of the greenback so you can dream about and put it to the test. Upfront it is noted as the legal tender to pay for debt, public and private. Fiat is really a mess to say the least. Now you see why we need crypto so bad. Decentralized is what crypto is all about. It is trustless. No worry about who is in charge cause the community is in charge. If they are spending and printing, how about us taking matter in our own hands?
DEFAULT TO FIX DEBT CEILING
Actually it will not be a bad move to fix the debt ceiling. Before we can fall into this pseudo-trap, there should be action sets to fix this avenue. Defaulting will result in not paying the countries that hold the US debts. Not paying the folks that are working for the US governments.
It has happened before. It was not pretty since many government offices were close or open couple days a week to circumvent the payroll drama.
This will cause a precedent for the dollar. It will be a sudden chaos where the economy will allow emotion to climb to the highest since the US runs the show with the dollar.
I know China, Russia would like to dethrone the US dollar supremacy. It is more of a gimmick when you try to comprehend the countries affairs in that aspect. I do not think they are ready to take the package that come with it. So the debt ceiling is a silly propaganda to continue with the printing machine and keep everyone contempt for the moment. Buying US bonds is a great business for the participants.
This country GDP should be exemplify to pay its due the way it should do.
As you can see I refrain myself of talking about raising taxes.
This is another suffocating subject as long one class pays all the taxes as long the other one pays less to promote job growth. Inflation is the icing on the cake.
When you think about all these, it may be no difference in your country. I admire this funny quote. Whoever possesses the gold, makes the rule. It is a clear statement from the world we are living. The mere idea of understanding, you bring to this subject, you see how depraved this financial system is. Unfortunately crypto is the leveler for the ones ready to use it.
Debt exists for the sole reason to stimulate the economy. I guess raising the debt ceiling is another example how reckless many can do with authority. There is no true willingness to fix the debt.
Since the debt has no end insight, the writing on the wall is clear, do your best to stay ahead.
Use crypto to counter punch the debt. Do your best to keep the fiat ratio to crypto to your advantage. At least you have crypto to fall on and bring hope to your plan.
Keep in mind this phenomenon is here to stay. The ones that get pay to fix the debt ceiling should fix it if they want to. I hope they will try. Maybe each of us should fix it by ourselves.
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