HomeBitcoin NewsBitcoin Pushed as More Analysts Criticize Stimulus

Bitcoin Pushed as More Analysts Criticize Stimulus


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Bitcoin has been at the center of many financial arguments as of late, especially after the United States rolled out a $2.2 trillion economic stimulus plan.

Why Some Feel the Stimulus Plan was Wrong

This plan saw many checks – worth approximately $1,200 each – make their way into American’s pockets and bank accounts. In addition, billions were unveiled for small business relief. Despite the good intent behind the stimulus package, many saw this move as too fast.

One of the big complains behind the stimulus plan was that all the money in question was simply printed out of thin air. This was the concern expressed by business owners such as Elon Musk of Tesla and SpaceX fame. Others sarcastically questioned how much the money was needed considering many of the rich individuals in America seem to be doing fine, despite the record job losses and the poor state of the country’s financial flows.

One of the people criticizing how things are looking in the United states right now is Max Keiser, a former Wall Street broker who thinks that the gap between rich and poor in America is growing like nobody’s business. In a recent interview, he stated that the country’s economic stimulus plan was heavily flawed, and he goes so far as to state that unemployment in this country could potentially reach 100 percent.

He stated:

The Fed continues gifting trillions of dollars to America’s overlords who use the money to fund their cartels. In the United States, workers aren’t needed. Americans paid $3 trillion in taxes last year while the Federal Reserve Bank, a private bank owned by a few overlords, printed $6 trillion for themselves in a week, and this number is set to jump to more than $20 trillion this year.

Keiser continued his rant by stating that the United States was now comparable to a nation like Saudi Arabia, describing it as a “country populated by princes and paupers with no middle class whatsoever.”

It looks like many people’s ideas would fall in line with those of Kaiser, which explains why bitcoin transactions have gone through the roof over the past few months. Thanks to the economic stimulus package, many have expressed concern that the inflation rate of the U.S. dollar is likely to go through the roof, and have been purchasing bitcoin and other forms of crypto as a means of hedging their wealth against economic strife.

Rich Get Richer; Poor Stay Poor

Keiser further mentioned:

The money printing goes to zombie banks, zombie companies and bank cartels that put it in their pockets. The productive part of the economy is starved of cash and dies… The Fed prints trillions for itself to buy them for the benefit of its benefactors, the overlords, and the cartels. Stock prices will continue to rise, and the size of America’s permanent underclass will grow.

Nick Marinoff
Nick Marinoffhttps://www.livebitcoinnews.com/
Nick Marinoff is currently a lead news writer and editor for Money & Tech, a San Francisco-based broadcasting station that reports on all things digital currency-related. He has also written for a number of other online and print publications including Black Impact Magazine, EKT Interactive, Seal Beach USA and Benzinga.com, to name a few. He has recently published his first e-book "Take a 'Loan' Off Your Shoulders: 14 Simple Tricks for Graduating Debt Free" now available on Amazon. He is excited about the potential digital currency offers, particularly its ability to finance unbanked populations and bring nations together financially.


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