Max Borders, author of The Decentralist, said in a new interview that the US economy is in danger of collapsing. The expert says that gold and cryptocurrencies will be safe havens in this environment.
Expert reveals his ‘best bets’ against impending collapse
Popular author Max Borders touched upon the times of depression in his latest statements. He also explained that Bitcoin and gold will be crucial tools to fend off the effects of impending economic disasters. According to Borders, the United States is preparing for more serious economic troubles than the Great Depression.
The Great Depression is the name given to the economic depression that began in 1929 and continued throughout the 1930s. Experts often refer to this period in their depression forecasts.
According to the expert, the biggest problem of the US economy is its debt, which is 130% of GDP. According to Borders, there is approximately $300 trillion in debt and leverage worldwide. But real productivity is only $100 trillion. Borders continues by explaining that these walls surround the Federal Reserve.
“The solution to the economic impasse will be Bitcoin and gold”
Borders shows how the Fed can print money to provide relief during a coronavirus pandemic, before raising interest rates to curb emerging inflation. It also highlights the unpredictable repercussions of macro-financial system intervention.
The conflict between the political elite and the central bank is another element at play. While financial spending to improve conditions during the pandemic has been politically popular, Borders argues it’s not financially prudent. According to the expert, “the solution to the economic impasse will be Bitcoin and gold”. Max claims that people no longer believe in institutions. Bitcoin was introduced in 2009 to address the 2008 housing crash.
Max Borders says altcoin and Bitcoin will be safe haven
The cooperation between the government and overly ambitious businesses became clear with the housing disaster. Bitcoin has the potential to change institutions and offer an alternative to established ones. It also blasted whales as they view cryptocurrency as a risky investment. Max Borders says that if investors use Bitcoin properly, it can be a great inflation hedge and store of value. According to the expert, as cryptocurrencies become more widely adopted, volatility will decrease.
The total value of the cryptocurrency market is currently trading above the psychological $1 trillion resistance.
cryptocoin.com As you can follow, the Fed increased the interest rate by 75 basis points to 2.25-2.50 percent for the second time, in line with the expectations. The decision was taken unanimously by the Fed members. The cryptocurrency market is currently reacting positively to these statements.
