US Government Debt Reaches All Time High, Bitcoin Offers Financial Protection

As the total debt of the US federal government surpassed it’s an all time high record with $19,659,460,647,160.83. Bitcoin is proving to be one of the very few alternatives for financial protection.
The US economy is found on an entirely debt-based monetary system, which is presumed to surpass $20 trillion in debt by 2017. The outstanding debt of the US federal government is covered by the Federal Reserve’s quantitative easing process, in which billions of Dollars are printed out to be distributed amongst top-tier commercial banks, corporations, and the Federal Reserve bank.
Bloated US economy In theory, the purpose of quantitative easing is to restore a struggling economy by increasing the market value of virtually every asset of a country. When billions of Dollars created by the Federal Reserve for instance, the US economy becomes significantly bloated, leading to a bubble of the central bank, assets, bonds, and any other asset that are based on the performance of the US economy.

This post was published at Coin Telegraph on 2016-10-07.