Famous entrepreneur and bitcoin supporter Kim Dotсom called for exchanging dollars for gold and cryptocurrency. As he wrote on Twitter, the U.S. authorities each year add 1 trillion dollars to the national debt, and it will never be paid. This situation will eventually lead to a global economic collapse, Kim Dotcom believes.
1 TRILLION DOLLARS in additional US Govt debt PER YEAR!
— Kim Dotcom (@KimDotcom) August 9, 2018
US spending is funded by lenders who will never get paid. US Empire will collapse followed by a world wide economic collapse. https://t.co/kdtB0GnewP
Shift your USD into Gold & Bitcoin asap before USD becomes toilet paper. https://t.co/a5UIuhJvUT
In response to Dotcom's tweet, one of the users said that it is necessary to stop the activity of the U.S. central bank. Another user wrote that the debt would be restructured, and eliminating the "production hole" that arose as a result of the North American Free Trade Agreement would lead to the revival of production in the U.S. and the intense economic growth.
The Hill writes that over the past ten months, the U.S. budget deficit rose by 20%, according to a report by the Congressional Budget Office. From October 1, 2017 to July 2018, spendings exceeded revenues by $682 billion, which is 116 billion more than the same period last fiscal year.
According to the forecasts, interest payments within debt servicing will become the fastest growing item of annual expenditures. In 30 years, the cost of debt servicing will surpass spending on defense and security. In 2016, Dotcom advised to buy bitcoins right now, while cheap.