I believe that when the next global financial crisis happens, it's not going to
be just a crash. The next crisis could be the greatest economic depression in
modern time. But on the other side of every crisis is opportunity. Here's
a thirty second background. The national debt of the US hovers around twenty one
point seven trillion US dollars. There's absolutely no way to pay back all that
money. So in order to deal with this immense shortage of cash, the
US will need to do two things. First, they will have to borrow
an additional one trillion dollars per year. Second, they will have to create
large amounts of new currency. The big banks like to use a fancy word
for creating massive amounts of new currency, and that is quantitative easing or QE.
The problem is that all this new currency comes from nothing. It's created
out of thin error poof that's more debt, and borrowing currency from other countries
obviously also creates more debt, and ever increasing debt is unsustainable and inevitably leads
to a crash. Why Because all this excess currency has created a death bubble,
and debt bubbles pop and when this death bubble pops, there's going to
be a financial crisis like nothing we've ever seen before. Why because the US
dollar is the largest bubble we have ever seen in human history. The bigger
the bubble, the harder the fall. The coming economic collapse could therefore be
an economic apocalypse. But here's the thing. The crash can be withheld and
pushed into the future by borrowing and creating even more currency, which is what
the banks are doing. They refuse to suffer the hangover and instead keep drinking.
This is not sustainable long term. But here's the good news. Bitcoin
that doesn't care about the world economy. Bitcoin is the best expression of money
the world has ever seen, and Bitcoin will succeed regardless of what any bank
or government does. But the coming crash will act as a catalyst for bitcoin's
adoption because the crash will cost widespread disbelief in the current monetary system, and
I believe that there will be a stampede to accumulate as much Bitcoin as possible
when people realize that fiat is worthless and that wealth cannot be stored in fiat
because Fiat keeps losing value through the ever increasing creation of more fiat, So
they will turn to bitcoin to preserve their wealth. Why bitcoin Because bitcoin is
the hardest money the world has ever seen, and people always return to hard
money in times of economic crisis. What is hard money? Hard money is
a money where it's difficult to create more of that money. Fiat is easy
money. It's limp money. By the push of a button, you can
create billions of dollars, and the banks and the governments do this. Gold
is much harder money than fiat. It's expensive and labor intensive to get gold
out of the round. But if gold purchasing power increase, it would make
economic sense to dig up more of it, and so more gold would be
added to the supply, and there could be massive amounts of gold in the
oceans that could further dilute the supply once we have the technology to dig it
up. Bitcoin is much harder money than gold. Here's why. There will
never be more than twenty one million bitcoins, and they cannot be created at
any faster pace than they are the total supply, and the issuance rate is
predictable and predetermined. Every four years, the issuance rate of bitcoin is cut
in half, so in the beginning, fifty bitcoins were created every ten minutes.
Four years later, twenty five bitcoins every ten minutes. Now we get
twelve point five bitcoins every ten minutes, and so on until we have twenty
one million bitcoins, which will be in the year twenty one forty. There
is nothing anyone can ever do to either increase the supply or increase the issuance
rate. This makes bitcoin the hardest money that has ever existed. I don't
think any invention has ever had better timing than Bitcoin. We are at the
brink of an economic apocalypse and bitcoin will benefit immensely from this when we have
an invention of this magnitude, in part with events like the invention of the
printing press, the moon landing, and the invention of the Internet. Timing
determines impact. If the iPhone had been invented in the sixteen hundreds, it
simply couldn't have succeeded, and Bitcoin could not have had any better timing.
And I say this with confidence for three reasons. First, we've been on
the brink of an economic collapse for years, and when the collapse happens,
it's going to be a catalyst for bitcoin adoption. Second, a change in
the monetary system is well overdue. Fiat have a hundred percent failure rate.
Throughout history, all the fiat money that have ever existed have all gone to
zero. The dollar, the Euro, the Swedish Chrona are no exceptions.
These fee at currencies too are going to zero. And third, Bitcoin is
the best expression of money the world has ever seen and the hardest type of
money ever created. The future is incredibly exciting. More wealth will be created
in bitcoin over the next ten years than over the prior ten years. But
remember, like any success story, it's not going to be a straight line
up. Keep studying, keep believing, and just be patient.