This video is your final warning. We’re $31.6 trillion in debt here in the United States, and now we’re sitting at a whopping 120 percent debt to GDP, which means that we dramatically consume more than we produce as a country, which is a very bad sign. And now you may be asking, “Well, we’re just in a weird time. We just had a pandemic, right? Things are going to turn around.” Well, I don’t know. Look at this exponential growth that we’ve been having in government data here in the United States. It has been ridiculous growth since early 2000, and I don’t see this heading right back down like a meme coin would, alright? And if you don’t believe me, don’t listen to me. Let’s actually listen to the decision-makers that are forming the budgets and let’s hear what the best-case scenario is, directly from the Secretary of the Treasury, Janet Yellen.
You talked about Janet Yellen’s answer. Reducing the deficit, isn’t it a fact that under President Biden’s proposed budget, that gross debt will rise from $32.7 trillion at the close of this year to $51 trillion by 2033? Well, get them held by the public. Which is, no ma’am, that’s gross debt and not a fact. That’s probably a fact. So you haven’t reduced the deficit, have you? So if you just heard in the video, they’re going to be raising the U.S. debt to $33 trillion by the end of 2023, and this number will be over $50 trillion, which will be up another 33 percent over the next decade, which is absolutely absurd. I can’t even imagine what our debt to GDP is going to be by then. And how do they continually just keep raising this debt ceiling? If you hear, like every six months, they’re talking about, “Oh, they’re reaching the debt ceiling. Now what do we do?” What do they do? They just continually raise it.
Well, how do they keep raising it? They just keep printing more and more money. They’re making the debt less expensive by printing more money because it debases the currency. And meanwhile, it increases the money supply, so there’s more money sloshing around. Now, there’s a big problem because, again, that debases the currency. That means that the currency that you work really hard for, the U.S. dollars and other fiat currencies, because other nations are very similar, because none of the fiat currencies are really paid to any commodities or anything that’s in fixed supply anymore, that makes the money that you work really hard for less valuable. It can buy less goods, services, and assets. So, this is why the wealthy get wealthier and the poor and middle class get poorer because the wealthy keep putting their money into assets that appreciate faster than the rate of our currency being debased. And that is why this wealth gap is going to grow to really, really scary levels.
And I can tell you that I think that honestly the solution and potentially the only solution, especially short term over the next couple of years into maybe 5, 10 years, I do think that precious metals like gold are going to dramatically outperform, even equities in pretty much any other asset class. Then also, we’re about to see the massive use case of Bitcoin and crypto play out here in 2023 into 2024, and especially 2025 when likely the cycle repeats. I do believe that crypto is going to see a massive explosion with its main use case being the reduced amount of risk from counterparty risk, being able to hold your own keys that…