Kim Dotcom: Invest in Bitcoin Before U.S. Debt Spirals Out of Control

Here is some of the best advice you will receive this year: do NOT invest in cryptocurrencies based on someone else's advice. Kim Dotcom like many other high-profile tech figures who have delved into cryptocurrencies uses their platform to encourage their followers to buy Bitcoin.

What many people seem to forget is Kim Dotcom has many cryptocurrency projects in the works and he himself is also an investor in Bitcoin and other cryptocurrencies. It is in Kims own interests for Bitcoin to go back up and like many largescale investors will cash out when given the chance.

In a tweet, Kim Dotcom urged people to invest into Bitcoin and gold because the U.S is accumulating $1 trillion in debt every year, that he claims will never be repaid and will bring forth a global economic crash.

While Kim is not incorrect about the growing debt especially after the federal deficit jumped 20% in the space of 10 months, anyone who is familiar with the government's history of handling debt knows all but one thing is certain.

The debt will be restructured/written off

This is highly likely. The Federal Reserve can at its discretion given its a private entity of sorts agrees to wipe out some of the debt owing from the US government. If they say, look don't worry about it, we'll just ignore some of your debt, they can do that and it has happened before.

Of course, this isn't as easy as it sounds. Because of inflation, you can't technically just 1:1 ignore or erase a debt, it has to be technically restructured. The Federal Reserve can and does do this by selling debt to banks and moving numbers around.

The technical logistics of erasing debt are tricky, nobody wants to end up like Zimbabwe. But banks write off debt all of the time and when done in small amounts and with a bit of magic, it can have minimal impact on the economy itself.

When the gold standard was abandoned and the concept of credit scores and worthiness were used as measures of borrowing capacity and ability to pay it back, it meant that banks and the U.S government could get a little more advanced in their fraudulent activities around borrowing and lending.

The U.S government has been borrowing money to fund its wars and propaganda machine for as long as it has existed. While Kim is taking issue and shouting doomsday from the hilltop, we've known about the growing level of U.S debt for some time now.

Unlike your average citizen, the government will never be held accountable or have the bank foreclose on the White House. Only citizens have to suffer from economic consequences, not the government.

Buy precious metals. If and when the economy does collapse, the only thing of value will be skills, food, water and precious metals like gold and silver.