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by elif
852 days ago
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The Bretton-Woods paradigm was already in collapse at the advent of bitcoin due to the corresponding growth of the US trade deficit as the US stopped producing/exporting and began massive consumption from the east. The USA is in a debt spiral spending $659B on interest on debt annually (13% of tax revenue) while running larger and larger deficits. This cannot really be escaped, and it's impact on inflation is becoming unavoidable. |
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