Lyn Alden Bitcoin - THE UNTHINKABLE IS COMING!

Lyn Alden Bitcoin - THE UNTHINKABLE IS COMING!

In this interview, Lean Alden shares her opinion on the recent comment made by the US Treasury Secretary before a Senate hearing that: "Failing to increase the debt limit would have catastrophic economic consequences. It would precipitate a financial crisis. It would threaten the jobs and savings of Americans at a time when we're still recovering from the COVID pandemic."

Read below the summary of Lyn Alden's comments.

The unthinkable is possible anytime because the unthinkable means a thing that has a low probability of occurring. Note that some of the things that happened even in the US capital this year were previously thought unthinkable.

Since the debt ceiling was implemented in the early 20th century, it's been raised about 100 times by both parties and it's being used as a tool.

The way the debt ceiling works is that the government isn't raising the debt ceiling for new debt; it is raising it to pay existing obligations. it has been signed into law.

At $30 trillion of the gross national debt, we have the highest debt on record. Interest rate rising to the historic level of 5%. At 5%, we're looking at $1.5 trillion of annual interest expenses on $30 trillion of debt. We have $3.5 trillion of tax revenues every year. So, about half of our tax revenues would go to interest expenses.

The US can't afford further stimulus or structural budget deficits. The country is fiscally in a problematic space. And the downside is that if you're holding cash or bonds, you can fail to recoup your purchasing power during that period.

During inflation, the central bank could raise interest rates to combat it.

A large chunk of the US debt is relying on variable interest rates. You will see average treasuries getting to around 3%. We are in an environment where most paths point towards currency devaluation, which is one consequence of the path forward. The high debt to GDP ratio is not anything new; yet, equity markets have continued to rally since 2009

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