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#Trump’s Recipe to Avoid #US Default Doesn’t Mention #Bitcoin

Trump’s Recipe to Avoid US Default Doesn’t Mention Bitcoin

An article by cointelegraph looks at #Trumps plan to avoid US default and its relation to #hyperinflation and #Bitcoin :
Presidential candidate #DonaldTrump claimed that the US is incapable of defaulting on its debt because of the Federal Reserve’s ability to “ #printmoney .”

The #Republican Party’s presumptive presidential nominee attempted to clarify previous statements that he could persuade America’s creditors to accept less than full payment for the #nationaldebt , which was construed by some publications to mean he intended to default. #Trump insisted that he meant that the US could simply buy back debt at a discounted rate.

“You know, I’m the king of debt. I understand debt probably better than anybody. I know how to deal with debt very well. I love debt but you know, debt is tricky and it’s dangerous and you have to be careful and you have to know know what you're doing. If there's a chance to buy back debt as a discount, interest rates up and the bonds down and you can buy debt. That’s what I'm talking about.”....

Read More @cointelegraph>>

The article rightly relates the plan as a cause of hyperinflation and a reduction in the value of a country's currency. But how does this relate to Bitcoin or other similar cryptocurrencies? well the article states:

'There are currently over 15 million Bitcoins in existence, with a limit to the speed at which new ones can be mined and a hard limit of 21 total for the currency’s lifespan. As a result, Bitcoin’s value has continued to rise, doubling its value steadily over the last year. Investing in #cryptocurrency would allow a potential hyperinflation in government-controlled currency to be avoided.'

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