When it comes to national debt, the situation in most cases is not pretty. As CoinStaker recently revealed, the United States national debt has slowly climbed up to over $23 trillion.
If we look at the whole world however, we will notice that things aren’t looking a lot better as a whole. Earlier this month, the Institute of International Finance updated its Global Debt Monitor.
Global debt to reach a record $255 trillion by the end of the year.
That’s $32,500 for each of the 7.7 billion people on the planet.
Plan A has already failed.
— Rhythm (@Rhythmtrader) November 15, 2019
It appears that the global debt has ballooned with an additional $12 trillion since the end of last year. According to the released information, the world’s combined debt will hit $255 trillion by the end of December. This is roughly $32500 “owed” by every person on the planet.
Global debt records will mean nothing in a few years if this keeps up
This is by all accounts, a new record and it’s not one that our politicians and banker should be proud of. Despite bitcoin’s market woes, the asset is slowly continuing to rise in prominence as more and more consumers are being to get educated about i’s potential benefits as hard money.
The most important part is that people are learning that bitcoin is an asset which unlike all fiat currencies, can in no way be manipulated by governments and banks.
Central banks have manipulated fiat currencies through different economic policies for quite some time now. More and more people are beginning to realize that in order to take control of their own monetary sovereignty, they need to own bitcoin.
Support for bitcoin and the use of cryptocurrencies, which was dismissed by the majority of economics a decade ago, is now very common with some of the most respected financial analysts in the world.
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