It is important to bifurcate the federal reserve note from the US dollar. The FRN is an instrument of debt. Whenever anyone uses a US dollar, it is lent from the private central bank to the federal reserve. Hence the term federal reserve note. The interest on this loan to the federal reserve is collected by the IRS in the form of taxes. Fiat paper money is an open loop. The more fiat currency that is printed, the more that is spent, which increases how much is taxed. There is NO long term incentive, to stop printing money. Inflation makes debt service costs cheaper, as the currency is devalued. Paying debt in an ever devaluing dollar reduces cost of debt. Adding more money supply into the system devalues the buying power of the currency. Which is yet another tax.
The downside of this, is that over a millennium, global reserve currencies come to an end. See this chart below:
The Trend since 1450, has been inflating away the buying power, and the value of the currency. Until it is so devalued, that it cannot maintain global reserve currency status. The US dollar which is the federal reserve note, is at that tipping point. As more people realize and wake up to this reality. The process of transitioning away from the US dollar speeds up as the population wakes up, to this devaluation. Mohamhed Bin Salmon (MBS), the prime minister of Saudi Arabia, has woken up to this realization. Saudi Arabia is joining BRICS, click here to read more.
This next clip from Monica Crowley regarding BRICS reserve currency and it’s threat to the US dollar, click here to view on twitter.
She fears that a Weimar Republic moment is in the future for the US economy. We agree!
Therefore, Bitcoin as the most scarce, prestine asset in the world, provides the scarcity, ease of transacting, to regain the value, inflation has lost.
One last point on BRICS. It has more population that has joined it’s reserve currency alliance (20 countries now), than the G7 countries.
“It’s no longer developed & developing world. It’s ascending & descending world”
Below is the chart comparting BRICS to G7 countries:
When you own Bitcoin, you can send it anywhere in the world quickly. It remains decentralized from governments as long as you own your own keys. If and when the FRN dies. Bitcoin will help us move on from that. It transfers anywhere like property rights without intervention or permission. We are not financial advisors and this is not financial advise. If and when hyperinflation starts in the US. Those who own Bitcoin will survive it! BRICS is simply the catalyst to kick this off. It ends in Bitcoin as global reserve currency, someday. For now, you need to get on the lifeboat.
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