Cryptocurrency Markets Unchanged Despite Prediction of Global Market Collapse & Role of US

On June 5th, well known entrepreneur says the US is economically past the point of redemption and it’s practices are influencing global economies.

Global Cryptocurrency Market Chart

In spite of that, this chart from CoinMarketCap.com taken June 6 at 10:34am, shows Global Cryptocurrency relatively unaffected.

Kim Dotcom Dissects the American Economy, Says US Government ‘Spending and Debt Have Spiraled Out of Control’

On Sunday, the digital entrepreneur Kim Dotcom took to Twitter in order to discuss a major global collapse. In recent times, Dotcom has not been very optimistic about the global economy and in the Twitter thread he published this weekend, those beliefs are further described. In the thread, Dotcom explains what he believes is being planned by the global elite and he specifically dissects the U.S. economy.

“The United States did not have a surplus or a balanced budget since 2001,” Dotcom wrote. “In the last 50 years, the U.S. only had [four] years of profit. In fact, all the profit the U.S. had would not be enough to pay for [six] months of the current yearly deficit. So how did the U.S. pay for things? U.S. spending and debt have spiraled out of control and the [government] can only raise the money it needs by printing it.” While sharing an image of the Fed’s M1 money supply chart, Dotcom continued:

That causes inflation. It’s like taxing you extra because you pay more for the things you need and all your assets decline in value.

Dotcom Warns About ‘Mass Poverty and a New System of Control’

The former CEO of the now-defunct file hosting service Megaupload, is not the only one predicting rough times ahead, as Tesla’s Elon Musk said he has a “super bad feeling” about the U.S. economy, and JPMorgan CEO Jamie Dimon recently warned about the possibility of an incoming economic hurricane. Trends forecaster Gerald Celente recently explained that if war continues in Europe, the odds of a recession increase.

Gold bug and economist Peter Schiff has warned his followers that the economic downturn in the United States “will be much worse than the ‘Great Recession.’” The digital entrepreneur Dotcom has similar views and in the thread, he claims the U.S. is bankrupt by breaking down the country’s debt and the Fed’s monetary expansion.

Dotcom stressed that the reason the U.S. has been able to get away with being bankrupt for so long is because the U.S. dollar is the world’s reserve currency. “Nations everywhere hold USD as a secure asset,” Dotcom said. “So when the U.S. [government] prints trillions it’s robbing Americans and the entire world. The biggest theft in history.”

He further added that the problem is it has been going on for decades and in the end, it will lead to “mass poverty and a new system of control.” Dotcom continued to prove that “this isn’t just doom and gloom talk” by doing the math tied to America’s unfunded liabilities and the total value of the country’s assets.

Dotcom said that even if the U.S. could sell all of its assets at current market rates, it would still be broke. “The U.S. is beyond bankrupt — This patient is already dead — This patient is now a zombie,” he opined. After explaining how broke he believes the country is today, Dotcom wrote about why he thinks reality won’t change and a “collapse is inevitable and coming.” Following that statement, Dotcom spoke about the ‘Great Reset’ theory, a subject covered by Bitcoin.com News in great detail.

“You may have heard about the ‘Great Reset’ or the ‘New World Order,’” Dotcom remarked. “Is it a controlled demolition of the global markets, economies, and the world as we know it? A shift into a new dystopian future where the elites are the masters of the slaves without the cosmetics of democracy?” Dotcom concludes his Twitter thread by stating:

Without a controlled demolition the world will collapse for all, including the elites. The world has changed so much and nothing seems to make sense anymore, the blatant corruption is out in the open, the obvious propaganda media, the erosion of our rights. What’s the end game?

The ‘Great Reset’ subject has been called a ‘conspiracy theory’ by mainstream media, as some believe it is a plot to deploy a totalitarian one-world government agenda, often referred to as the ‘New World Order.’ It is believed that specific global crises like Covid-19, the Ukraine-Russia war, climate change, and many other subjects are being used to establish a new dystopian future. Others believe that the while the ‘Great Reset’ is real and despite the theories, it is the path to a sustainable recovery from events like Covid-19 and what environmental activists call a climate change crisis.