Imagine my surprise when I checked the futures this morning.
Bitcoin halving in about 12 hours.
“That is the only thing that has kept the doors open, so to speak, is the fact we are able to borrow an unlimited amount of money because we are the world reserve currency.
Foreigners backing away from our debt is going to lead the Federal Reserve to be the buyer of last, and then, only resort. So, you will have direct monetization between the Fed and the Treasury.
What that will cause is a currency that declines in purchasing power. It will decline in a big way, and it will decline rapidly.
So, what I am describing is inflation that turns into hyperinflation.”
h/t CharlieFoxtrot
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