Max Keiser warns US could lose economic influence if Bitcoin standard adopted
From Investing.com
December 26, 2024 1:30 PM:
Max Keiser, a Bitcoin maximalist and former financial journalist, has advised the U.S. government on the risks of losing dollar dominance due to macroeconomic factors and the global financial landscape. A shift from the U.S. dollar to a Bitcoin standard could erode confidence in the fiat currency, impacting the country’s reserves and debt burden.
Keiser criticized the current monetary system where the U.S. dollar is backed by trust and government policy rather than tangible assets like gold. He believes a move to a global Bitcoin standard could collapse the U.S.’s economic influence, as Bitcoin’s fixed supply and decentralized nature limit a country’s ability to wield power through printing money or accumulating debt.
Russia is seen as strategically advantaged under a Bitcoin standard by Keiser, as the country has lower national debt and assets with intrinsic value, like abundant energy resources that could support Bitcoin mining. This positions Russia well for a shift to a Bitcoin-backed system, making it less vulnerable to financial shocks.
Read more at Investing.com: Max Keiser Reveals US Fate Amid Bitcoin Standard Adoption By U.Today