‘Plan A Has Failed’ — Global Debt to Hit $255T or $12.1M per Bitcoin
William Suberg's original article for cointelegraph.com reduced by 77%
The world's combined debt will hit $255 trillion by the end of 2019 - equal to $32,500 for each person on the planet or $12.1 million per Bitcoin. Bitcoin figures reacted with shock to the latest figures from the Institute of International Finance, which this month updated its Global Debt Monitor. By the end of the year, the world's debt will have expanded by an extra $12 trillion compared to the end of 2018.
The timely data comes as United States national debt alone hits $23 trillion, with the Federal Reserve undaunted by the idea of debt continuing to expand. As Cointelegraph reported, while Fed chair Jerome Powell has described the current debt trajectory as "Unsustainable," he considers there to be no critical problems with not paying it off. For Bitcoin proponents the verdict on the fiat economy creating over $12 million of debt for each Bitcoin that will ever exist was obvious.
Never before has the combined debt of the world been so high.
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CN [too long; didn’t read]
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