The Creator of the Megaupload file-sharing site, the developer, owner and blockchain enthusiast Kim Dotcom has said that the collapse of the US economy in the near future is inevitable.
If the US markets in the long term will be destroyed, as predicted by renowned economists, including Peter Schiff and Nouriel Roubini, then, according to Kim Dotcom, cryptocurrency immediately predstavyatsya investors with sustainable and stable way of preserving values, along with precious metals like gold:
“The Empire of the United States today pays $ 500 million percent per year to service their debt. The US debt increases by a trillion a year. This is a death spiral from which there is no escape. Self-destruction and the collapse of the USD is inevitable. Move away from the USD and us equities. Buy gold and cryptocurrencies.”
The most powerful economy has a strong influence on the economic situation in Europe and Asia. In early October, Dotcom also said that the crisis in the US will lead the global economic crisis:
“U.S. costs are funded by lenders, most of which will never return borrowed funds. The US Empire will collapse, triggering the onset of the next global economic crisis”
When the securities market has suffered the largest sales in recent years, destroying the profit in the 2018 year, analysts noted the increased vulnerability to the collapse of the Asian markets. Managing Director of FX strategy at BKAM, Katie Lin, commenting on the negative trend on the fall of the US economy, in comparison with the growth of the emerging economies, said:
“Unfortunately, this is only the beginning. I guess when things like this change of sentiment, they usually last longer than we would like, we can continue to see falling sales is still some time”
Thus, as predicted by many leading economists and major financial institutions such as JP Morgan, the US economy will experience a major collapse by 2020 year, which will have a critical impact on the securities market, real estate and financial markets in Asia.
The seriousness of the debt problem began to stress and agencies like the international Monetary Fund, whose representative, Jared is getting Bernstein, recently said:
“Even if you believe that government debt does not matter in achieving economic results, you have to admit that when we are faced with recession, governments will be less likely to use serious steps if the amount of debt as high as our now”
Also in June, the head of the International monetary Fund (IMF) Christine Lagarde acknowledged that the global economy is not in great shape, and the cryptocurrency can be one of the solutions to a deep crisis.
Kim Dotcom has long argued that “everyone will use cryptocurrency” in the horizon of 10 years. Now Kim also explained that the adoption of the cryptocurrency will allow buyers to unprecedented financial freedom, increasing the value of digital assets:
“Crypto-currencies replace Fiat rapidly. It’s still early stage, but within 10 years you will be able to pay all your bills, goods and services with cryptocurrencies. No more bankers and politicians who play in the fictional casino your money. Encryption + Cryptocurrency = Freedom”
Recall that the CEO of Coinbase also sure that bitcoin can replace the dollar as the world reserve currency by 2030 year.