Comments | Trump’s Crypto for US Debt?

While the spat between Donald Trump and Kamala Harris has been clouded by outrageous accusations, attacks, and threats to democracy, little attention has been paid to their economic plans, much less to the consequences for America’s financial stability.. According to independent analyses, the Harris plan would increase the U.S. debt by $3,500 billion over ten years, while Trump’s plan would increase the debt by $7,500 billion: The federal debt (equal to GDP today but already predicted to be 125% in 2035) “Donald’s plan” will even rise to 142% of national income: worse than today’s Italy, But with more weight.
A serious problem not just for the US but for the rest of the world, based on the old warning to Europeans from Treasury Secretary John Connolly during Nixon’s presidency: “The dollar is our currency but it’s your problem”.

Trump’s sudden infatuation with cryptocurrencies (three years ago he considered them a scam, now he embraces themSpeaking at conferences on Bitcoin, launching tokens with his face on it and going directly into business with his children, World Liberty Financial, a crypto platform that bypasses banks and sells everything from sandals to Bibles — for cash — uses his bad name to try to capture the votes of the millions of Americans who invest in digital currencies. , with technology franchise (Elon Musk, Peter Thiel, venture capitalist) Marc Andreessen) is betting a lot on this controversial business.

But there are those who remember Trump immediately asking if cryptocurrencies could be used against the US public debt when he was first told about these deals. A delicate topic that affects the stability of the system. The truth is that technocrats focus on Donald because they see him as the bearer of logic. disturbance In Silicon Valley politics (and in “traditional” economics). Former Speaker of the House Paul Ryan, a traditional Republican and “hardliner,” also supported Wall Street Journal Cryptocurrencies can help avert the US public debt crisis. If only Creators Fixed Currencies They will become big buyers of debt issued by the US Treasury in dollar terms.