US Gets Fitch'd (Why We Bitcoin)

Learn to buy anonymous Bitcoin:
https://www.bitcoinuniversity.com/courses/76599-the-ultimate-guide-to-bitcoin

In this video, I discuss the Fitch US debt downgrade, and what it means for the future of the US dollar as global reserve currency, as well as its purchasing power.

Will the US do a hard default on its debt (i.e. fail pay interest or principal)?

No-- because it doesn't need to. The Fed can print up new money to buy new US debt, which can then be used to pay down old debt ("rolling the debt").

The US will continue the soft default that it has been in since at least 1971, when Nixon closed the gold window. Purchasing power of USD against real goods and services will continue to plummet.

Unlike US Treasuries and US dollars, Bitcoin has:

1) Zero counter-party risk
2) Zero debasement risk

Bitcoin is a scarce digital bearer asset, not the liability of a spendthrift, geriatric government.

Not investment advice! Consult a financial advisor.

Fitch Downgrades the United States' Long-Term Ratings to 'AA+' from 'AAA':
https://www.fitchratings.com/research/sovereigns/fitch-downgrades-united-states-long-term-ratings-to-aa-from-aaa-outlook-stable-01-08-2023

Rule by walking caskets:
https://twitter.com/CarlBMenger/status/1685744725494554624
https://twitter.com/Not_the_Bee/status/1687534729136898052

US Treasury announces huge new borrowing:
https://home.treasury.gov/news/press-releases/jy1662

Yellen pretends not to understand:
https://twitter.com/kanekoathegreat/status/1686957234172080129

Yellen's failed financial predictions:
https://www.usnews.com/news/articles/2017-06-27/janet-yellen-i-dont-see-a-financial-crisis-in-our-lifetimes

US debt clock:
https://www.usdebtclock.org/

Watch the Fed's balance sheet grow:
https://fred.stlouisfed.org/series/WALCL

Thomas Jefferson on money and banking:
https://www.whitlockco.com/thomas-jeffersons-top-10-quotes-on-money-and-banking/

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#debt
#usa

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