US Is Out Of Lenders—Bitcoin Will Fill The Void: Strike CEO
The post US Is Out Of Lenders—Bitcoin Will Fill The Void: Strike CEO appeared on BitcoinEthereumNews.com. Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Strike chief executive Jack Mallers says the post-war monetary model has hit a wall. In an appearance on Natalie Brunell’s Coin Stories podcast released, the 30-year-old entrepreneur delivered a granular history lesson, a withering critique of US debt dynamics and, above all, a case for Bitcoin as the asset capable of absorbing the shock when the dollar-centric order finally gives way. A century-Old Bargain Reaches Its Limit Mallers began by rewinding to 1944. “After the world wars America was the strongest economy. We had the most gold…” he recalled, noting that Bretton Woods installed the dollar as the world’s reserve currency precisely so Washington could “export our strength” in paper while importing physical goods. That bargain, he argued, morphed into something far more lopsided: “Effectively we are printing pieces of paper and getting real stuff in return for it. You delegate and outsource manufacturing an iPhone, the food you consume, the energy you burn, and all you’re doing is importing real goods and exporting currency. That’s Triffin’s dilemma in action.” The numbers back him up. Gross federal debt now stands at roughly $36.2 trillion and is on pace to exceed $37 trillion by fiscal year-end, according to the Concord Coalition’s review of Treasury data. Interest costs alone are running at an annualized $684 billion. Mallers dwelt on how that debt is funded. In the 1980s and 1990s, he said, surplus nations—“China, Japan, Russia”—were happy to recycle export earnings into Treasuries. No longer. “If your buddy was $36 trillion in debt, would you lend him more money? Probably not,” he quipped. The marginal buyer today, he said, is “our own banking system and hedge funds levered up in the Cayman Islands.” That view echoes recent market chatter. JPMorgan…
The post US Is Out Of Lenders—Bitcoin Will Fill The Void: Strike CEO appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Strike chief executive Jack Mallers says the post-war monetary model has hit a wall. In an appearance on Natalie Brunell’s Coin Stories podcast released, the 30-year-old entrepreneur delivered a granular history lesson, a withering critique of US debt dynamics and, above all, a case for Bitcoin as the asset capable of absorbing the shock when the dollar-centric order finally gives way. A century-Old Bargain Reaches Its Limit Mallers began by rewinding to 1944. “After the world wars America was the strongest economy. We had the most gold…” he recalled, noting that Bretton Woods installed the dollar as the world’s reserve currency precisely so Washington could “export our strength” in paper while importing physical goods. That bargain, he argued, morphed into something far more lopsided: “Effectively we are printing pieces of paper and getting real stuff in return for it. You delegate and outsource manufacturing an iPhone, the food you consume, the energy you burn, and all you’re doing is importing real goods and exporting currency. That’s Triffin’s dilemma in action.” The numbers back him up. Gross federal debt now stands at roughly $36.2 trillion and is on pace to exceed $37 trillion by fiscal year-end, according to the Concord Coalition’s review of Treasury data. Interest costs alone are running at an annualized $684 billion. Mallers dwelt on how that debt is funded. In the 1980s and 1990s, he said, surplus nations—“China, Japan, Russia”—were happy to recycle export earnings into Treasuries. No longer. “If your buddy was $36 trillion in debt, would you lend him more money? Probably not,” he quipped. The marginal buyer today, he said, is “our own banking system and hedge funds levered up in the Cayman Islands.” That view echoes recent market chatter. JPMorgan…
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