The Money Printer Goes Brrrrrrr
A debt deal is brokered
The holiday weekend brought news that Congress and President Biden had brokered a deal regarding the debt limit. While it still has to pass a vote, conventional wisdom has it that government will make this work in time for the deadline that looms at the end of this week.
Details aside—this is another example of the out of control spending and borrowing of our government.
The US is not alone in this, of course.
But the news should serve as reminder about why Bitcoin is important, mainly because of its deflationary properties. There will ever only be 21 million. That’s it. That will make the asset more valuable over the coming decades.
In addition, this cycle of tax, spend, borrow is unsustainable. It has consequences, and a shelf life. The bill will come due, and when it does, it will hurt.
The question you have to ask yourself is, how are you going to protect yourself when it does?
Plus…
The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.